Spain: Retail sales contract in February
March 28, 2014
In February, retail sales contracted 0.4% over the same month last year, which was a tad below the 0.3% contraction tallied in January. The monthly deterioration was the result of a contraction in the food household goods categories. The decreases in these categories more than offset the increases registered in the three remaining categories. On a working-day adjusted basis, retail sales contracted 0.4% over the same month last year (January: +0.5% year-on-year). FocusEconomics Consensus Forecast panelists expect private consumption to expand 0.9% in 2014, which is up 0.3 percentage points over last month's projection. The panel sees private consumption growth at 1.1% in 2015.