1.3%: Germany’s Retail Sales rise by less than expected in August

German Retail Sales, a key measure of consumer spending, showed an upside in August. The consumer spending measure rose 1.3% month-on-month (MoM), according to official data released by Destatis, while it was expected to have increased 2.0%. In July, Retail Sales arrived at -3.4%.

On an annualized basis, Retail Sales declined 0.4% in August compared to the prior release of a fall of 2.5%.

Market reaction

The Euro (EUR) edges slightly higher following the Germany’s Retail Sales release. As of writing, the EUR/USD pair is up 0.07% on the day at 1.1348.