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German Retail Sales down by 2.3% in June

Friday, Jul 31 2015
According to provisional results of the Federal Statistical Office (Destatis), retail turnover in June 2015 in Germany increased 5.1% in real terms and 5.3% in nominal terms compared with the corresponding month of the previous year. The number of days open for sale was 26 in June 2015 and 24 in June 2014. 
 
When adjusted for calendar and seasonal variations, the June turnover was in real terms 2.3% and in nominal terms also 2.3% smaller than in May 2015. Analysts were anticipating 0.3% increase. Compared with the previous year, turnover in retail trade was in the first six months of 2015 in real terms 2.5% and in nominal terms 2.4% larger than in the corresponding period of the previous year.
 
Data did not have any major impact on euro which is currently being traded at 1.0950 handle. Pair is likely to find support around 1.08 level and resistance above 1.10 area. Later today, Eurozone CPI and Unemployment Rate figures are scheduled for a release.
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