German Retail Sales fall by 2.0% MoM in March vs. -0.1% expected
German Retail Sales, a key measure of consumer spending, declined again in March. The consumer spending measure fell 2.0% month-on-month (MoM), according to official data released by Destatis, while it was expected to have declined 0.1%. In February, Retail Sales eased by 0.3% (revised from -0.6%).
On an annualized basis, Retail Sales dropped 2.0%, against a rise of 0.5% estimates and the prior release of 0.9% growth (revised from 0.7%).
Market reaction
No immediate reaction was observed in the Euro (EUR) after the data release. As of writing, the EUR/USD pair is down 0.14% on the day at 1.1660.
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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