Investing.com – Retail sales in Germany dropped unexpectedly in November, declining for the second consecutive month, official data showed on Thursday.
In a report, Germany’s Statistics Office said retail sales fell by a seasonally adjusted 0.9% in November, confounding expectations for a modest 0.1% gain.
The previous month’s figure was revised to a 0.2% decline from a previously reported 0.7% gain.
The data showed that German retail sales rose at annualized rate of 0.8% in November from a year earlier, after falling 0.6% in October. Analysts had expected retail sales to rise at an annualized rate of 0.7% in November.
Following the release of that data, the euro was modestly lower against the U.S. dollar, with EUR/USD shedding 0.15% to trade at 1.2921.
Meanwhile, the outlook for European stock markets was mixed. The EURO STOXX 50 futures pointed to a loss of 0.1%, France’s CAC 40 futures shed 0.05%, the FTSE 100 futures eased up 0.2%, while Germany's DAX futures dipped 0.1%.
In a report, Germany’s Statistics Office said retail sales fell by a seasonally adjusted 0.9% in November, confounding expectations for a modest 0.1% gain.
The previous month’s figure was revised to a 0.2% decline from a previously reported 0.7% gain.
The data showed that German retail sales rose at annualized rate of 0.8% in November from a year earlier, after falling 0.6% in October. Analysts had expected retail sales to rise at an annualized rate of 0.7% in November.
Following the release of that data, the euro was modestly lower against the U.S. dollar, with EUR/USD shedding 0.15% to trade at 1.2921.
Meanwhile, the outlook for European stock markets was mixed. The EURO STOXX 50 futures pointed to a loss of 0.1%, France’s CAC 40 futures shed 0.05%, the FTSE 100 futures eased up 0.2%, while Germany's DAX futures dipped 0.1%.