• German Retail Sales arrived at -5.9% YoY in November vs. -2.5% expected.
• Retail Sales in Germany came in at 1.1% MoM in November vs. 1.0% expected.

Germany's Retail Sales rose by 1.1% MoM in November versus 1.0% expected and -2.8% previous, the official figures released by Destatis showed on Friday.

On an annualized basis, the bloc’s Retail Sales plunged by 5.9% in November versus the -2.5% expected and a 5.0% drop recorded in October.

FX implications

The Euro shrugs off the downbeat German data. At the time of writing, the major trades at 1.0516, modestly flat on the day.

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.