Portugal Retail

Portugal

Portugal: May expansion drives retail sales closer to pre-crisis levels

July 24, 2014

In May, retail sales expanded 1.6% over the same month last year, which contrasted the 0.5% drop tallied in April. May’s increase marked the strongest expansion in three months.

Retail sales have been progressively recovering the ground that was lost during the last three years of recession. With the exception of a drop in April, retail sales have consistently expanded over the last five months. This has caused average growth in retail sales to jump to 0.5%, which is up from the 0.1% tallied in April, and marks the highest reading since September 2008.

FocusEconomics Consensus Forecast panelists expect private consumption to increase 0.9% in 2014, which is unchanged from last month’s estimate. For 2015, the panel sees private consumption accelerating to a 1.1% expansion.


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Portugal Retail Chart


Portugal Retail May 2014

Note: Year-on-year and annual average variation in %.
Source: Statistics Portugal (INE) and FocusEconomics calculations.


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