Germany retail sales dropped by 0.9% in November

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Source: Forexporos

Germany's retail sales in November decreased by 0.9% while analysts expected the figure to increase by 0.1%. However, retail turnover in 2011 is likely to increase by between 1.1% and 1.3% from the previous year, reported Federal Statistical Office. After the release of data, the Euro saw losses against the USD and the pair EUR/USD is currently trading at 1.2921, edging down 0.15%.

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Thu, 05 Jan 2012 09:11:01 GMT

Trade surplus in China narrows in 2011

Experts predict Chinese foreign trade to expand by 20% to 3.6 trillion U.S. dollars. However, the trade surplus is likely to narrow further to about 160 billion U.S. dollars last year, according to Chen Deming, Commerce Minister. The National Statistics Bureau will release all data for 2011 next week.

Thu, 05 Jan 2012 09:47:06 GMT

Greece may need additional fiscal measures

Greece may need extra fiscal measures to comply with 2011 budget requirements, said the government spokesman. Moreover, the interim government developed 'very specific' measures to pursue the goal of staying in the Euro Zone, the official added.

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