Latest data released by Destatis - 29 May 2020
- Prior -5.6%; revised to -4.0%
- Retail sales -6.5% vs -14.0% y/y expected
- Prior -2.8%; revised to -1.2%
Slight delay in the release by the source. Surprisingly, retail sales data did not slump as badly as anticipated following the drop in March. That said, the drop in activity is still rather damaging with the year-on-year decline the largest since 2009.
In any case, all eyes will be on how quickly will consumer sentiment recover and this will be a key spot to watch in the coming months.
