Germany’s Retail Sales fall by 2.0% in September, vs. 0.4% expected
German Retail Sales, a key measure of consumer spending, showed a surprised downside in September. The consumer spending measure fell 2.0% month-on-month (MoM), according to official data released by Destatis, while it was expected to have increased 0.4%. In August, Retail Sales arrived at 1.2% (revised from 1.3%).
On an annualized basis, Retail Sales dropped 2.3% in September, compared to the prior release of a decline of 0.3% (revised from -0.4%.)
Market reaction
The downbeat Germany’s Retail Sales data has little to no impact to the Euro (EUR). As of writing, the EUR/USD pair is up 0.27% on the day at 1.1188.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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