- German Retail Sales bounce 2.1% MoM in Nov vs. +1.0% expected.
- German Retail Sales jump 2.8% YoY in Nov vs. +0.9% expected.
According to the latest data reported by Germany’s Destatis on Monday, the country’s Retail Sales rebounded 2.1% MoM in November versus +1.0% expected and -1.9% last.
On an annualized basis, the German Retail Sales jumped 2.8% in November versus +0.8% seen in October and +0.9% expected.
The solid German retail spending data offered some support to the shared currency, lifting the EUR/USD pair off the session lows of 1.1157. At the press time, the spot trades near 1.1165, up 0.05% on the day.
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.
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