Spain Retail February 2021

Spain

Spain: Retail sales continue to plunge in February amid lingering restrictions

March 31, 2021

Retail sales fell 9.4% compared to the same month of 2020 in February 2021, after plunging 10.8% in January, amid protracted containment measures.

Looking at the details of the release, February’s softer decline reflected a alight but almost broad-based improvement across all types of stores. Sales at single retail, small chain and department stores declined at sharp albeit somewhat less pronounced paces in the month, while sales at large chain stores fell at a more marked rate.

On a seasonally- and calendar-adjusted monthly basis, retail sales rebounded and grew 4.2% in February, contrasting the 7.6% plummet logged in January and marking the best reading since June 2020. Lastly, the trend pointed down, with the annual average variation of retail sales coming in at minus 8.8% in February, down from January’s minus 7.7% reading.

FocusEconomics Consensus Forecast panelists see private consumption growing 6.2% in 2021 and 5.3% in 2022.


Author: Massimo Bassetti, Senior Economist

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Spain Retail Chart


Spain Retail February 2021

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


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