Spain Retail October 2020

Spain

Spain: Retail sales fall more sharply in October

November 27, 2020

Retail sales dipped 2.4% compared to the same month a year ago in October, after falling 2.2% in September and marking the eighth consecutive month of declining sales.

Looking at the details of the release, October’s result was primarily driven by sharper drops in sales at single retail and small chain stores. Meanwhile, purchases at large chain and department stores picked up compared to September.

On a seasonally- and calendar-adjusted monthly basis, retail sales climbed 0.2% in October, rebounding slightly from the 0.3% slip logged in September. Lastly, the trend pointed down, with the annual average variation of retail sales coming in at minus 5.8% in October, down from September’s minus 5.4% reading.

FocusEconomics Consensus Forecast panelists see private consumption growing 6.7% in 2021 and 4.2% in 2022.


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Spain Retail October 20 20 0

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


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