- German Retail Sales dropped by 5.5% MoM in April vs. -2.0% expected.
- Retail Sales increased by 4.4% YoY in April vs. 10.1% expected.
According to the latest data reported by Germany’s Destatis on Wednesday, the country’s Retail Sales fell by 5.5% MoM in April versus -2.0% expected and 7.7% last.
On an annualized basis, the German Retail Sales came in at 4.4% in April versus 10.1% seen in March and 11.0% expected.
FX implications
EUR/USD is closing in on 1.2200, as the shared currency bears the brunt of downbeat German Retail Sales data.
At the time of writing, the spot trades modestly flat at 1.2211, fresh daily lows.
About German Retail Sales
The Retail Sales released by the Statistisches Bundesamt Deutschland is a measure of changes in sales of the German retail sector. It shows the performance of the retail sector in the short term. Percent changes reflect the rate of changes of such sales. The changes are widely followed as an indicator of consumer spending. The positive economic growth usually anticipates "Bullish" for the EUR, while a low reading is seen as negative, or bearish, for the EUR.