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MNI: GERMAN DATA: Retail Sales (Apr 2019) Preview....>

MNI: GERMAN DATA: Retail Sales (Apr 2019) Preview - 07:00 BST
- Bloomberg Consensus: 0.1% m/m, 1.4% y/y; MNI Median: 0.5% m/m
- Previous (Mar): 0.0% m/m, -2.0% y/y (rev. from -0.2% m/m, -2.1% y/y)
- German retail sales grew by a healthy 1.6% q/q in Q1 - up from 0.6% in Q4 
- Markets look for sales to have grown marginally on the month in Apr...
- ... and for the annual rate to turn positive 
- Destatis reported that the Mar y/y data were impacted negatively by the timing
of Easter relative to last year
- Holiday-related spending in Apr should have a positive impact on both the m/m
& y/y figures
- HH consumption, which increased by 1.2% q/q, was a key driver of Q1 GDP growth
- While the unemployment rate edged higher in May (to 5.0% from 4.9% in Apr), it
remains close to its post-reunification low...
- ... combined with rising wages, subdued inflation & ultra-low interest rates,
this suggests consumer spending should continue to support economic growth in Q2

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