Investing.com – Retail sales in Germany were flat in July, official data showed on Wednesday.
In a report, Germany’s Statistics Office said retail sales posted a flat reading in July, confounding expectations for a 1.5% decline.
The previous month’s figure was revised down to a 4.5% gain from a previously reported 6.3% gain.
The data showed that German retail sales fell at annualized rate of 1.6% in July, after dropping 2.1% in June, worse than expectations for a 0.8% decline.
Following the release of that data, the euro was fractionally lower against the U.S. dollar, with EUR/USD easing down 0.01% to trade at 1.4440.
Meanwhile, the outlook for European stock markets was upbeat. The EURO STOXX 50 futures pointed to a gain of 0.25%, France’s CAC 40 futures added 0.45%, the FTSE 100 futures eased up 0.1%, while Germany's DAX futures were up 0.2%.
In a report, Germany’s Statistics Office said retail sales posted a flat reading in July, confounding expectations for a 1.5% decline.
The previous month’s figure was revised down to a 4.5% gain from a previously reported 6.3% gain.
The data showed that German retail sales fell at annualized rate of 1.6% in July, after dropping 2.1% in June, worse than expectations for a 0.8% decline.
Following the release of that data, the euro was fractionally lower against the U.S. dollar, with EUR/USD easing down 0.01% to trade at 1.4440.
Meanwhile, the outlook for European stock markets was upbeat. The EURO STOXX 50 futures pointed to a gain of 0.25%, France’s CAC 40 futures added 0.45%, the FTSE 100 futures eased up 0.1%, while Germany's DAX futures were up 0.2%.