Latest data released by Destatis - 5 January 2021
- Prior +2.6%
- Retail sales +5.6% vs +4.0% y/y expected
- Prior +8.2%; revised to +8.6%
Slight delay in the release by the source. That is a surprise jump in German retail sales considering the reintroduction of lockdown measures that took place in November.
On the one hand, it feeds into a slightly more robust consumption narrative in Q4 last year but I'm not all too convinced still. Either way, the market is more forward-looking so the data here is rather inconsequential but at least it doesn't add to the doom and gloom.
