Germany October retail sales -1.9% vs +0.2% m/m expected
Latest data released by Destatis - 29 November 2019
- Prior +0.1%; revised to 0.0%
- Retail sales +0.8% vs +3.0% y/y expected
- Prior +3.4%
Slight delay in the release by the source. Ouch, that is quite a big miss and will certainly not help to alleviate pressure off the German economy - especially since this is in relation to consumption activity and in some ways, domestic demand.
The bright side is that recent data noted that Christmas shopping is still seen unaffected so perhaps the latter half of Q4 may present some reprieve but for now, this will just keep any calls for a recovery in the German economy at bay.