German Retail Sales plunge 5.6% MoM in March vs. -7.3% expected, EUR/USD unmoved

• German Retail Sales plunge 5.6% MoM in Mar vs. -7.3% expected.

• Retail Sales drop 2.8% YoY in Mar vs. +1.5% expected.

According to the latest data reported by Germany’s Destatis on Thursday, the country’s Retail Sales arrived at -5.6% MoM in March versus -7.3% expected and +1.2% last.

On an annualized basis, the German Retail Sales came in at -2.8% in March versus +6.4% seen in February and +1.5% expected.

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.