Spain: Retail sales rebound in April
Retail sales expanded 3.3% year-on-year in April (March: -5.5% yoy). The reading reflected a broad-based improvement across the major sectors: small chain stores swung from a notable contraction to a marked expansion, while large chain stores and single retail stores contracted at softer paces in the month.
On a monthly basis, retail sales jumped 5.3% in seasonally-adjusted terms in April, contrasting March’s 4.3% decrease. Meanwhile, the trend pointed down, with the annual average growth of retail sales coming in at 1.6%, down from March ‘s 3.6% reading.