Spain: Retail sales flat in December
January 29, 2014
In December, retail sales recorded zero growth over the same month of the previous year, which was down from the 2.0% increase tallied in November. The deterioration was broad-based; all sub-categories of the index lost ground over the previous month, with catering recording the largest decline. On a working-day adjusted basis, retail sales contracted 1.0% over the same month of the previous year (November: +1.8% year-on-year).
In the full year 2013, retail sales fell 3.9%, which was, nonetheless, up from the 7.0% drop recorded in 2012.
FocusEconomics Consensus Forecast panelists expect private consumption to expand 0.4% in 2014, which is unchanged over last month's projection. The panel sees private consumption growth at 0.9% in 2015.