In January, retail sales contracted 0.2% over the same month last year, which was a tad down from the revised 0.1% decline tallied in December (previously reported: 0.0% year-on-year). The deterioration mainly reflected falling sales at gas stations. On a working-day adjusted basis, retail sales expanded 0.5% over the same month last year (December: -1.0% year-on-year), which contrasted the 0.8% drop markets had expected. Despite the subdued January reading the trend in Spanish retail sales is pointing upwards. Annual average variation in industrial production stepped up from minus 3.9% in December to minus 3.2% in January, marking the highest level since April 2011. FocusEconomics Consensus Forecast panelists expect private consumption to expand 0.6% in 2014, which is up 0.1 percentage points over last month's projection. The panel sees private consumption growth at 1.0% in 2015.
Retail sales inch down in January
March 13, 2014
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Spain Retail Chart
Note: Year-on-year and annual average variation of retail sales.
Source: National Statistical Institute (INE) and FocusEconomics calculations.
Spain Economic News
October 7, 2016
In August, industrial production expanded 4.0% from the same month last year in working-day adjusted terms.
October 5, 2016
The Markit Purchasing Managers’ Index (PMI) Composite Output Index came in at 54.1 in September, which was slightly below August’s 54.8 reading.
September 30, 2016
Spain’s current account balance incurred a surplus of EUR 3.0 billion in July, which was above the EUR 2.7 billion surplus recorded in the same month of last year and marked the highest reading since December 2014.
September 29, 2016
In August, retail sales rose 4.9% over the same month last year as the discount season drew to an end.
September 29, 2016
In July, the Spanish Board of Architects (Colegio de Arquitectos Técnicos) granted 6,267 new construction permits, according to data published by the Ministry of Public Works (Ministerio de Fomento).