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.
Author: Javier Colato, Economist