German Retail Sales fall 0.1% YoY in October vs. -2.0% expected

Germany's Retail Sales rose 1.1% MoM in October versus a 0.4% increase expected and -0.8% in September, the latest official data released by Destatis showed on Thursday.

Retail Sales in the Eurozone's top economy dropped 0.1% YoY in October versus a 4.3% annual decline seen in August. The market forecast a decrease of 2.0%.

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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. Positive economic growth is usually anticipated as "bullish" for the EUR, while a low reading is seen as negative, or bearish, for the EUR.