BOC WILL BE CONSDIERING FURTHER RATE CUTS

BOC DOESN'T SEE A RECESSION, RATHER SLOW GROWTH

BOC SAYS WEAKER CAD DRIVEN BY USD STRENGTH

MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

US EIA: CRUDE OIL STOCKS EX SPR -1.42M TO 422.0M DEC 06 WK

BOC CUTS RATE 50BPS TO 3.25%, SEES GRADUAL APPROACH FROM HERE

MNI: US NOV CPI 0.3%, CORE 0.3%; CPI Y/Y 2.7%, CORE Y/Y 3.3%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

GERMAN DATA: Retail Sales Stronger Towards End of Summer; Food/Non-Food Both Up

GERMAN DATA
Data BulletEurozoneGermanyCEEMEABulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets

German August Retail Sales came in at +1.6% M/M (real, seasonally-adjusted) and +2.1% Y/Y in August. That follows July's +1.5% M//M - and means retail sales ended the summer on a more positive note after deteriorating in May (-1.4%) and June (-1.1%). Taking into account continued subdued consumer confidence and retail sentiment in the country, it remains questionable if the print is a signal for a sustainable recovery in domestic demand - or rather just a partial reversal of the previous weakness which might overall prevail for some more time.

  • Looking at the individual categories, August's increase appears broad-based with food sales at +1.9% M/M, and non-food sales at +1.1% M/M. Internet and mail orders inclined particularly, at +8.9% M/M, Destatis adds.
  • The press release contains limited information on details - Destatis is yet to upload seasonally-adjusted subsector data for the previous couple of months after a methodology update suspended retail sales releases temporarily.
152 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

German August Retail Sales came in at +1.6% M/M (real, seasonally-adjusted) and +2.1% Y/Y in August. That follows July's +1.5% M//M - and means retail sales ended the summer on a more positive note after deteriorating in May (-1.4%) and June (-1.1%). Taking into account continued subdued consumer confidence and retail sentiment in the country, it remains questionable if the print is a signal for a sustainable recovery in domestic demand - or rather just a partial reversal of the previous weakness which might overall prevail for some more time.

  • Looking at the individual categories, August's increase appears broad-based with food sales at +1.9% M/M, and non-food sales at +1.1% M/M. Internet and mail orders inclined particularly, at +8.9% M/M, Destatis adds.
  • The press release contains limited information on details - Destatis is yet to upload seasonally-adjusted subsector data for the previous couple of months after a methodology update suspended retail sales releases temporarily.