Germany Retail Sales Unexpectedly Decline 4th Month, 7th Time in 9 Months

The EU GDP setup isn't pretty. Economists expected a 0.8% rise in German sales. Instead, sales fell 0.6%.

In the Eurozone, economists were way off the mark as German Monthly Retail Sales Unexpectedly Dropped.

German monthly retail sales unexpectedly fell in March, data showed today, marking a fourth consecutive drop and dampening cheer around a consumer-led upswing in Europe's biggest economy.

The volatile indicator, which is often subject to revision, showed retail sales decreased by 0.6% on the month in real terms, the Federal Statistics Office said.

That confounded the Reuters consensus forecast for a 0.8% rise and followed an upwardly revised drop of 0.2% in February.

Slowing Global Growth

Data from Europe puts a nice spotlight on slowing global GDP.

Don't expect the ECB to be hiking or even tapering its balance sheet anytime soon. This is US dollar supportive.

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Mike "Mish" Shedlock

Comments (6)
No. 1-6
caradoc-again
caradoc-again

Currency wars not over as each fights to maintain exports, especially those most dependent on them - the EU.

caradoc-again
caradoc-again

Deflationary, bonds might get one last run up, $ up and emerging market borrowers take a hit. So many moving parts and linkages.

Mike Mish Shedlock
Mike Mish Shedlock

Editor

Absolutely - Many moving parts: US dollar bears and treasury bears seldom take all the moving parts into consideration

LondonBob
LondonBob

EU and Japanese leading indicators drooping alarmingly, only the US still rising. Those tax cuts might just save the day.

thimk
thimk

Well so much for the "global synchronized growth" meme.