German Retail Sales Annual Drop Eases to 0.3% in April as Consumer Spending Stabilizes
Updated
Updated · vtmarkets.com · Jun 1
German Retail Sales Annual Drop Eases to 0.3% in April as Consumer Spending Stabilizes
7 articles · Updated · vtmarkets.com · Jun 1
Germany’s retail sales were 0.3% lower than a year earlier in April, a sharp improvement from the previous 2.0% annual decline and the clearest sign yet that consumer demand is stabilizing.
That softer contraction follows separate April data showing a 0.3% month-on-month fall, which was still milder than the 0.5% drop economists had expected.
The retail figures add to signs of improving sentiment in Europe’s largest economy after Germany’s Ifo business climate index unexpectedly rose to 91.5 in May.
A steadier German consumer backdrop could support the euro and DAX while easing pressure on the ECB to cut rates further, especially after euro zone inflation ticked up to 2.6% last week.
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