Spain: Retail sales decline to a nine-month low in July
August 31, 2018
Retail sales dipped 0.6% in year-on-year terms in July, contrasting the 0.7% increase logged in June and marking the lowest reading in nine months. July’s drop largely reflected the decline in sales of food and personal equipment goods.
On a distribution-based system, sales at single retail stores fell for the third consecutive month in July. In addition, purchases at small chain and department stores swung to contraction compared to the previous month. Meanwhile, sales at large chain stores rose mildly in July, well below the solid increase recorded in June.
Annual average retail sales growth edged down from 1.0% in June to 0.9% in July, a six-month low.
Author: Javier Colato, Economist