• German Retail Sales arrived at -2.9% YoY in November vs. -3.3% previous.
• Retail Sales in Germany stood at 0.6% MoM in November vs. -0.5% expected.

Germany's Retail Sales rose by 0.6% MoM in November versus -0.5% expected and -0.5% last, the official figures released by Destatis showed on Tuesday.

On an annualized basis, the bloc’s Retail Sales came in at -2.9% in November versus -3.3% booked in October.

FX implications

The euro shrugs off encouraging German Retail Sales data.

At the press time, the major trades at 1.1290, little changed 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. The positive economic growth usually anticipates "Bullish" for the EUR, while a low reading is seen as negative, or bearish, for the EUR.