German Retail Sales drop 4.3% YoY in September vs. -2.3% previous

Germany's Retail Sales declined 0.8% MoM in September versus a 0.5% increase expected and -1.2% in August, the latest official data released by Destatis showed on Tuesday.

On an annual basis, Retail Sales in the Eurozone's top economy dropped 4.3% in September versus a 2.3% decline seen in August.

EUR/USD reaction to the German data

The Euro is recovering losses despite the mixed German consumer spending data. At the time of writing, the EUR/USD is dropping 0.05% on the day to trade at 1.0605.

About German Retail Sales

The Retail Sales released by the Statistisches Bundesamt Deutschland is a measure of changes in sales of the German retail sector. It shows the performance of the retail sector in the short term. Percent changes reflect the rate of changes of such sales. The changes are widely followed as an indicator of consumer spending. Positive economic growth is usually anticipated as "bullish" for the EUR, while a low reading is seen as negative, or bearish, for the EUR.