Investing.com – Retail sales in Germany rose 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 0.7% in October, beating expectations for a 0.1% gain.
The previous month’s figure was revised to a 0.3% increase from a previously reported 0.4% gain.
The data showed that German retail sales fell at annualized rate of 0.4% in October from a year earlier, after rising 0.6% in September.
Following the release of that data, the euro was down against the U.S. dollar, with EUR/USD shedding 0.33% to trade at 1.3270.
Meanwhile, the outlook for European stock markets was downbeat. The EURO STOXX 50 futures pointed to a loss of 1.35%, France’s CAC 40 futures fell 1.3%, the FTSE 100 futures declined 1%, while Germany's DAX futures dropped 1.3%.
In a report, Germany’s Statistics Office said retail sales rose by a seasonally adjusted 0.7% in October, beating expectations for a 0.1% gain.
The previous month’s figure was revised to a 0.3% increase from a previously reported 0.4% gain.
The data showed that German retail sales fell at annualized rate of 0.4% in October from a year earlier, after rising 0.6% in September.
Following the release of that data, the euro was down against the U.S. dollar, with EUR/USD shedding 0.33% to trade at 1.3270.
Meanwhile, the outlook for European stock markets was downbeat. The EURO STOXX 50 futures pointed to a loss of 1.35%, France’s CAC 40 futures fell 1.3%, the FTSE 100 futures declined 1%, while Germany's DAX futures dropped 1.3%.