Highlights
- German retail sales unexpectedly fall by 1.6% in December.
- The fall in retail sales supports expectations of a Q1 German recession and fuels bets on an April ECB rate cut.
- Up next, German inflation numbers, US labor market data, and the Fed interest rate decision.
On Wednesday, the German economy is under the spotlight. Early in the European session, German retail sales were in focus.
German Retail Sales
German retail sales unexpectedly declined by 1.6% month-on-month in December. In November, retail sales slid by 2.4% month-on-month. Economists forecast retail sales to rise by 0.7% in December month-on-month.
ECB Impact Analysis
Last week, the ECB left interest rates unchanged. However, ECB President Lagarde refrained…
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