Spain Retail May 2018

Spain

Spain: Retail sales fall in May

June 28, 2018

Retail sales declined 0.4% in year-on-year terms in May, contrasting the 0.7% increase recorded in April and marking the lowest reading in seven months. May’s dip largely reflected the significant drop in sales of personal equipment goods more than offsetting a mild rise in food sales.

On a distribution-based system, purchases at single retail stores contracted for the fourth consecutive month. Department store sales also dropped in May, albeit at a more moderate pace than in April. Meanwhile, sales at small and large chain stores slowed down compared to the previous month.

Annual average retail sales growth edged down from 1.4% in April to 1.1% in May, a four-month low.

FocusEconomics Consensus Forecast panelists see private consumption expanding 2.4% in 2018, which is unchanged from last month’s forecast. For 2019, the panel sees private consumption growing at 2.1%.


Author:, Economist

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Spain Retail May 2018

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


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