Latest data released by Destatis - 1 March 2019
- Prior -4.3%; revised to -3.1%
- Retail sales +2.6% vs +1.2% y/y expected
- Prior -2.1%
Slight delay in the release by the source. A solid rebound in German consumption activity to start the year, following the abysmal reading seen in December. The rise here is the biggest monthly jump in German retail sales since October 2016. This will give added confidence to the ECB ahead of next week's meeting and fuel some hope that the German economy is still holding up after a standstill growth in Q4 last year.
