German Retail Sales decline 1.6% YoY in June vs. -6.3% expected

According to the latest official data released by Destatis on Monday, Germany's Retail Sales dropped 0.8% MoM in June versus -0.2% expected and 0.4% previous.

On an annual basis, the bloc’s Retail Sales declined 1.6% in June versus the expected 6.3% slump and May’s -3.6% print.

FX implications

The Euro is unmoved by the mixed German data. At the time of writing, the EUR/USD is almost unchanged on the day at 1.1010.

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.