Spain Retail December 2016

Spain

Spain: Growth in retail sales slows in December

January 27, 2017

Retail sales grew 0.9% year-on-year in December, a sharp slowdown from November’s 3.9% increase. December marked the second-worst month for retail sales in nearly two years, behind only October 2016. Sales growth across sub-components was mixed in December, as food sales grew while restaurant sales and home and personal equipment sales fell. On a seasonal- and calendar-adjusted basis, retail sales in December expanded 2.9% compared to the same month in 2015, down from November’s revised figure of 3.1% (previously reported: +3.3% year-on-year).

Annual average growth in retail sales dropped to 3.7% in December from 3.9% in November, the lowest result in 11 months.

FocusEconomics Consensus Forecast panelists see private consumption expanding 2.3% in 2017, which is down 0.1 percentage points from last month’s forecast. For 2018, the panel sees private consumption growing at 2.0%.


Author:, Economist

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Spain Retail Chart


Spain Retail December 2016 2

Note: Year-on-year and annual average variation of retail sales.
Source: National Statistical Institute (INE) and FocusEconomics calculations.


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