In May, German retail sales increased by 4.2 percent MoM, compared to 5.0 percent predicted.
In May, retail sales decreased by 2.4 percent year over year, compared to the 10.1 percent projected.
Retail Sales in Germany increased 4.2 percent MoM in May, compared to 5.0 percent predicted and -5.5 percent the previous month, according to the latest statistics released by Destatis on Thursday.
On an annualized basis, German retail sales fell by 2.4 percent in May, compared to 4.4 percent in April and 10.1 percent forecast.
On the back of disappointing German Retail Sales data, the EUR/USD fell to new three-month lows of 1.1839. On the day, the pair is down 0.11 percent.
The Statistisches Bundesamt Deutschland’s Retail Sales report is a measure of changes in retail sales in Germany. It depicts the retail sector’s performance in the short term. The rate of change in such sales is reflected in percent changes. Consumer spending is closely monitored as a result of the adjustments. Positive economic growth is usually interpreted as “Bullish” for the EUR, whereas a low number is interpreted as “Bearish.”/nRead More