Monday, January 08, 2007

Forex News: 08.01.2007 Retail sales index in Germany in November were below expectations

Despite positive expectations of the analysts, the index of retail sales in Germany dropped a second month, the Federal Statistical Office of Germany reported today.

The index was -0.3%, against -0.2% in October. At the annual rate, the index of retail sales rose from -0.8% in October to -0.5% in November. It was expected that the index would amount to +1.2% and +0.3%, in a month and year respectively.

As a rule, the index produces limited effect upon the market, largely, in middle- and long-term rate, but its unexpected drop may negatively influence German currency


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