1.3%: Germany’s Retail Sales rise by less than expected in August
German Retail Sales, a key measure of consumer spending, showed an upside in August. The consumer spending measure rose 1.3% month-on-month (MoM), according to official data released by Destatis, while it was expected to have increased 2.0%. In July, Retail Sales arrived at -3.4%.
On an annualized basis, Retail Sales declined 0.4% in August compared to the prior release of a fall of 2.5%.
Market reaction
The Euro (EUR) edges slightly higher following the Germany’s Retail Sales release. As of writing, the EUR/USD pair is up 0.07% on the day at 1.1348.
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