German Retail Sales plunge by 5.0% YoY in October vs. -2.8% expected

• German Retail Sales arrived at -5.0% YoY in October vs. -2.8% expected.
• Retail Sales in Germany came in at -2.8% MoM in October vs. -0.6% expected.

more to come ....

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.