German Retail Sales decline by 0.3% MoM in April vs. -0.4% expected
German Retail Sales, a key measure of consumer spending, declined again in April. The consumer spending measure fell 0.3% month-on-month (MoM), according to official data released by Destatis, while it was expected to have declined 0.4%. In March, Retail Sales dropped by 0.3% (revised from 2.0%)
On an annualized basis, Retail Sales decreased 0.3%, compared to the prior release of a 0.2% decline (revised from 2.0%).
Market reaction
No immediate reaction was observed in the Euro (EUR) after the data release. As of writing, the EUR/USD pair is down 0.04% on the day at 1.1655.
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