Retail sales in Germany rose significantly more-than-expected in November, fuelling optimism over the health of the euro zone’s largest economy, official data showed on Tuesday.
In a report, Destatis said that retail sales in Germany rose by a seasonally adjusted 1.5% in November, easily surpassing expectations for a 0.6% increase. Retail sales fell by 0.8% in October.
Following the release of the data, the euro held on to modest losses against the U.S. dollar, with EUR/USD inching down 0.07% to trade at 1.3619.
Meanwhile, European stock market futures pointed to a higher open. The EURO STOXX 50 futures pointed to a gain of 0.2% at the open, France’s CAC 40 futures added 0.2%, London’s FTSE 100 futures indicated a rise of 0.1%, while Germany''s DAX futures pointed to a gain of 0.25% at the open.
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