German retail sales grow sequentially in October, but decline on year-on-year basis

Germany’s retail sales grew at the most rapid pace in over five years in October in sequential terms. According to the Federal Statistics Office (Destatis), German retail sales grew 2.4 percent in real terms sequentially. In nominal terms, retail sales rose 2.6 percent sequentially in October. The provisional results show that the retail turnover in October dropped 1 percent in real terms, whereas it fell 0.4 percent in nominal terms.

For the initial 10 months of 2016, retail trade turnover rose 1.8 percent in real terms on a year-on-year basis, while it rose 2 percent in nominal terms. This is larger than the corresponding period of 2015.

Meanwhile, the wholesale trade rose 0.9 percent in real terms and 1.8 percent in nominal terms in the third quarter. This is smaller than that in the third quarter 2015. In the September of 2016, the turnover in wholesale trade was 0.5 percent in real terms and 0.6 percent in nominal terms. It was smaller than in the corresponding month of 2015.

At 09:00 GMT the FxWirePro's Hourly Strength Index of Euro was highly bullish at 158.974, while the FxWirePro's Hourly Strength Index of US Dollar was highly bearish at -109.816. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex