The EU GDP setup isn't pretty. Economists expected a 0.8% rise in German sales. Instead, sales fell 0.6%.
In the Eurozone, economists were way off the mark as German Monthly Retail Sales Unexpectedly Dropped.
German monthly retail sales unexpectedly fell in March, data showed today, marking a fourth consecutive drop and dampening cheer around a consumer-led upswing in Europe's biggest economy.
The volatile indicator, which is often subject to revision, showed retail sales decreased by 0.6% on the month in real terms, the Federal Statistics Office said.
That confounded the Reuters consensus forecast for a 0.8% rise and followed an upwardly revised drop of 0.2% in February.
Slowing Global Growth
Data from Europe puts a nice spotlight on slowing global GDP.
Don't expect the ECB to be hiking or even tapering its balance sheet anytime soon. This is US dollar supportive.
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