Spain Retail July 2016


Retail sales ease in July

In July, retail sales rose 3.1% over the same month last year, which was notably below June’s revised 5.9% increase (previously reported: 6.0% year-on-year). The result came mainly on the back of increasing sales in services, while a decrease in food sales dragged on growth. On a seasonal- and calendar-adjusted basis, retail sales in July expanded 4.9% over the same month of the previous year, which was below June’s 5.7% rise.

As a result of slower annual growth, the upward trend halted in July. Nonetheless, annual average growth in retail sales was stable at June’s 4.3%, the highest reading on record.

FocusEconomics Consensus Forecast panelists see private consumption expanding 3.1% in 2016, which is unchanged from last month’s forecast. For 2017, the panel sees private consumption growth at 2.3%.

Author:, Economist

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