German Retail Sales drop by 2.9% YoY in October vs. -2.0% expected

• German Retail Sales arrived at -2.9% YoY in October vs. -2.0% expected.
• Retail Sales in Germany stood at -0.3% MoM in October vs. 1.0% expected.

Germany's Retail Sales fell by 0.3% MoM in October versus 1.0% expected and -2.5% last, the official figures released by Destatis showed on Wednesday.

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About German Retail Sales

The Retail Sales released by the Statistisches Bundesamt Deutschland is a measure of changes in sales of the German retail sector. It shows the performance of the retail sector in the short term. Percent changes reflect the rate of changes of such sales. The changes are widely followed as an indicator of consumer spending. The positive economic growth usually anticipates "Bullish" for the EUR, while a low reading is seen as negative, or bearish, for the EUR.