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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 DATA
MNI (London)
GERMANY JAN RETAIL SALES -0.3% M/M (FCST +2.3%); DEC -1.7% M/M
GERMANY JAN RETAIL SALES -6.9% Y/Y
- German retail sales (real) contracted by -0.3% m/m and -6.7% y/y in January. This was weaker than the -0.3% m/m fall anticipated by consensus.
- Compared to pre-pandemic January 2023, retail sales were -0.6% lower.
- A continuation of this trend would drag on Q1 growth after the high cost of living and weak sentiment saw household consumption fall -1.0% q/q (vs -0.6% expected) in Q4 2022.
- Looking forward, German consumer confidence edged up for a fifth consecutive month in the GfK March outlooks but remains muted.
- The propensity to buy subindex only improved marginally as uncertainty and living costs remain elevated, implying a rebound in consumer spending appetite is not on the near-term horizon.
Source: Destatis
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.
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