Spain Retail


Retail sales contract in October

In October, retail sales fell 0.6% over the same month last year. The print contrasted the 2.1% rise tallied in September (previously reported: +2.2% year-on-year), which had marked the largest expansion since March 2010. The deterioration was broad-based; all sub-categories of the index lost ground over the previous month, with household equipment registering the largest decline. On a working-day adjusted basis, retail sales contracted 0.5% over the same month last year (September: +2.1% yoy).

Annual average variation in retail sales improved from minus 6.5% in September to minus 5.8% in October, marking the highest level in over a year.

FocusEconomics Consensus Forecast panelists expect private consumption to decline 2.6% in 2013, which is unchanged over last month's projection. The panel sees private consumption growth at 0.2 in 2014, which is up 0.1 percentage points over the previous month's estimate.

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Spain Retail Chart

Spain Retail October 2013

Note: Year-on-year and annual average variation of retail sales.
Source: National Statistical Institute (INE) and FocusEconomics calculations.

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