Investing.com – Retail sales in Germany increased significantly more-than-expected in October, official data showed on Wednesday.
In a report, Germany’s Statistics Office said retail sales rose by a seasonally adjusted 2.3% in October, after falling by 1.8% in September, whose figure was revised upwards from a decline of 2.3%.
Analysts had expected retail sales to rise by 1.3% in October.
The report said the largest increase in sales came in the textile, clothing and footwear stores.
Following the release of that data, the euro was up against the U.S. dollar, with EUR/USD gaining 0.40% to hit 1.3036.
Meanwhile, the outlook for European stock markets was upbeat. The EURO STOXX 50 futures indicated a gain 0.49%, France’s CAC 40 futures pointed to an increase of 0.56%, Germany's DAX futures added 0.55%, while the FTSE 100 futures pointed a rise of 0.44%.
In a report, Germany’s Statistics Office said retail sales rose by a seasonally adjusted 2.3% in October, after falling by 1.8% in September, whose figure was revised upwards from a decline of 2.3%.
Analysts had expected retail sales to rise by 1.3% in October.
The report said the largest increase in sales came in the textile, clothing and footwear stores.
Following the release of that data, the euro was up against the U.S. dollar, with EUR/USD gaining 0.40% to hit 1.3036.
Meanwhile, the outlook for European stock markets was upbeat. The EURO STOXX 50 futures indicated a gain 0.49%, France’s CAC 40 futures pointed to an increase of 0.56%, Germany's DAX futures added 0.55%, while the FTSE 100 futures pointed a rise of 0.44%.