Spain Retail October 2021

Spain

Spain: Retail sales contract at sharpest pace since February in October

December 1, 2021

Retail sales slid 2.5% in year-on-year terms in October, which contrasted September's 0.2% increase. October's figure marked the sharpest contraction since February. The weakening was largely driven by a deterioration in large chain stores sales, which fell at the sharpest pace since March 2013. In addition, single retail stores sales also weakened.

On a seasonally- and calendar-adjusted monthly basis, retail sales fell 0.1% in October (September: +0.3% mom). Meanwhile, annual average growth of retail sales was 2.4% in October, mirroring September's figure.

FocusEconomics Consensus Forecast panelists see private consumption growing 6.1% in 2022 and 2.7% in 2023.


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Spain Retail October 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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