Germany’s Retail Sales climb by 1.8% YoY in May vs. 0% expected
German Retail Sales, a key measure of consumer spending, showed a surprise upside in May. The consumer spending measure rose 1.1% month-on-month (MoM), according to official data released by Destatis, while it was expected to have declined 0.1%. In April, Retail Sales fell by 0.4% (revised from -0.3%)
On an annualized basis, Retail Sales climbed 1.8% in May, compared to the prior release of a 0.6% fall (revised from -0.3%). This figure came in above the market consensus of 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 0.31% on the day at 1.1386.
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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