Mixed Results for German Retail Sales
TAKEAWAY: German retail sales climb 1.7% on the year, but shrink -1.1% on the month -> Rising numbers can mean economic growth for the Eurozone -> Retail sales boost EUR/USD daily rally.
German retail sales for the month of February grew by 1.7% when compared to the previous year, but fell by 1.1% in comparison to January’s numbers. The month over month figures beat analysts’ expectations, while the year over year fell short of the 0.1% growth expectation.
Positive retail sales can be a sign of a growing economy. When compared to other European countries, Germany has over the past years enjoyed lower unemployment and lower inflation, which has translated to higher consumer confidence.
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