La sagrada familia in Spain

Spain Retail April 2020

Spain: Retail sales crash at sharpest pace on record in April

Retail sales nosedived 31.5% year-on-year in April (March: -14.5% yoy) as stores were shut closed due to the nationwide lockdown. April’s result marked another record-breaking drop, after March had already posted the steepest fall on record.

Looking at the details of the release, April’s plunge was largely driven by a collapse in purchases at small chain stores. Furthermore, sales also plummeted at both single retail and department stores.

On a monthly, seasonally-and-working-day adjusted basis, retail sales declined 20.4% in April, following March’s 15.5% slump. The reading marked the worst result on record. Meanwhile, the trend pointed down, with the annual average variation of retail sales coming in at minus 1.3%, down from March’s plus 1.4%.

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