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Spain: Retail sales fell to five-month low in July

August 29, 2014

In July, retail sales inched down 0.3% over the same month last year, which followed the flat reading tallied in June. The print marked the lowest rate in five months. July’s deterioration mostly reflected a decline in sales at general merchandise stores, excluding service stations. On a working-day adjusted basis, retail sales declined 0.5% over the same month last year (June: +0.2% year-on-year).

Annual average variation in retail sales improved from minus 0.2% in June to minus 0.1% in July, marking the highest level since April 2008.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 1.5% in 2014, which is unchanged over last month’s projection. The panel sees private consumption growth at 1.6% in 2015.


Author: Ricard Torné, Lead Economist

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Spain Retail Chart


Spain Retail July 2014

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


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