Spain: Growth in retail sales accelerates in January

Retail sales rose 1.7% in year-on-year terms in January, following the 0.1% uptick logged in December. January’s print largely reflected the healthy increase in sales of food and household equipment goods.

On a distribution-based system, growth was almost broad-based across store types. Sales at small chain stores rebounded in January while purchases at large chain and department stores continued to expand. Sales at single retail stores contracted yet again in the month, however.

Annual average retail sales growth inched down to 0.7% in January from 0.8% in December.

Spain Private Consumption Forecast

FocusEconomics Consensus Forecast panelists see private consumption expanding 2.0% in 2019, which is unchanged from last month’s forecast, and 1.8% in 2020.