Spain: Retail sales drop to an over year-and-a-half low in September
October 30, 2018
Retail sales dipped 3.1% in year-on-year terms in September, contrasting the 0.3% increase logged in August and marking the lowest reading since February 2017. September’s decline largely reflected a notable drop in sales of food and personal equipment.
On a distribution-based system, the slump was broad-based. Sales at single retail and large chain stores swung to contraction compared to August while purchases at small chain and department stores tumbled for the third consecutive month in September.
Annual average retail sales growth tumbled from 0.8% in August to 0.4% in September, the lowest in nearly four years.
Spain Private Consumption Forecast
FocusEconomics Consensus Forecast panelists see private consumption expanding 2.4% in 2019, which is up 0.1 percentage points from last month’s forecast, and 2.1% in 2020.
Author: Javier Colato, Economist