Spain Retail August 2020


Spain: Retail sales drop at steeper clip in August

August 28, 2020

Retail sales declined 4.6% compared to the same month a year earlier in August, more sharply than July’s 3.7% dip.

Looking at the details of the release, August’s result was primarily driven by sharper falls in sales at single retail and small chain stores. Meanwhile, purchases at large chain stores picked up pace somewhat compared to July.

On a seasonally- and calendar-adjusted monthly basis, retail sales gained traction, increasing 1.8% in August (July: +1.2% s.a. mom). Lastly, the trend pointed down, with the annual average variation of retail sales coming in at minus 4.9% in August, down from July's minus 4.3% reading.

FocusEconomics Consensus Forecast panelists see private consumption falling 13.7% in 2020, which is down 0.8 percentage points from last month’s forecast, and expanding 7.4% in 2021.


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Spain Retail Chart

Spain Retail August 20 20

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

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