German Retail Sales decline unexpectedly by 0.6% MoM vs. estimates of 0.2% growth

German Retail Sales, a key measure of consumer spending, declines again in February. The consumer spending measure contracts 0.6% Month-on-month (MoM), according to official data released by Destatis, while it was expected to have grown 0.2%. In January, the data was declined by 1.1%, revised lower from -0.9%.

On an annualized basis, Retail Sales grew at a moderate pace of 0.7%, against 1% estimates and the prior release of 1.2%.

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