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.
Author: Christopher Thomas, Economist