Investing.com - Retail sales in Germany dropped unexpectedly in December, declining for the third consecutive month, official data showed on Tuesday.
In a report, Germany’s Statistics Office said retail sales fell by a seasonally adjusted 1.4% in December, confounding expectations for a 0.8% gain.
The previous month’s figure was revised down to a 1.0% drop from a previously reported 0.9% decline.
The data showed that German retail sales fell at annualized rate of 0.9% last month from a year earlier, after rising 0.9% in November. Analysts had expected retail sales to rise at an annualized rate of 0.9% in December.
Following the release of that data, the euro held on to gains against the U.S. dollar, with EUR/USD rising 0.35% to trade at 1.3188.
Meanwhile, the outlook for European stock markets was upbeat. The EURO STOXX 50 futures pointed to a gain of 0.8%, France’s CAC 40 futures added 0.95%, London’s FTSE 100 futures rose 0.45%, while Germany's DAX futures climbed 0.75%.
In a report, Germany’s Statistics Office said retail sales fell by a seasonally adjusted 1.4% in December, confounding expectations for a 0.8% gain.
The previous month’s figure was revised down to a 1.0% drop from a previously reported 0.9% decline.
The data showed that German retail sales fell at annualized rate of 0.9% last month from a year earlier, after rising 0.9% in November. Analysts had expected retail sales to rise at an annualized rate of 0.9% in December.
Following the release of that data, the euro held on to gains against the U.S. dollar, with EUR/USD rising 0.35% to trade at 1.3188.
Meanwhile, the outlook for European stock markets was upbeat. The EURO STOXX 50 futures pointed to a gain of 0.8%, France’s CAC 40 futures added 0.95%, London’s FTSE 100 futures rose 0.45%, while Germany's DAX futures climbed 0.75%.