German Retail Sales plunge 9% YoY in February vs. -6.3% expected, EUR/USD unfazed

• German Retail Sales increased by 1.2% MoM in February vs. +2.0% expected.

• Retail Sales plunged 9.0% YoY in February vs. -6.3% expected.

According to the latest data reported by Germany’s Destatis on Thursday, the country’s Retail Sales rose by 1.2% MoM in February versus +2.0% expected and -4.5% last.

On an annualized basis, the German Retail Sales came in at -9.0% in February versus -8.7% seen in January and -6.3% 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. The positive economic growth usually anticipates "Bullish" for the EUR, while a low reading is seen as negative, or bearish, for the EUR.