Spain: Retail sales grow at quickest pace since May 2021 in January
Retail sales increased 7.1% in year-on-year terms in January, which was above December’s 3.7% increase. January’s figure marked the best reading since May 2021. The upturn came on the back of upturns in large chain stores and single retail stores sales.
On a seasonally and calendar adjusted monthly basis, retail sales rose at a more moderate pace of 0.4% in January (December: +0.5% mom). Meanwhile, annual average retail sales growth rose to 1.0% in January (December: +0.7%), signaling an improving trend in the retail trade sector.