Latest data released by Destatis - 30 October 2020
- Prior +3.1%; revised to +1.8%
- Retail sales +6.5% vs +6.5% y/y expected
- Prior +3.7%; revised to +3.0%
Slight delay in the release by the source. Retail sales activity slumped towards the end of Q3 but it should do little to take away from the more robust performance in the last quarter, which we will see later today via the preliminary GDP report.
The focus of the market now is on the Q4 outlook and how will virus developments play out moving forward, as the risks of a double-dip recession are being realised.