Spain: Retail sales growth eases in February
Retail sales grew 3.5% in year-on-year terms in February, which was a deterioration from January’s 7.3% increase. The reading was largely driven by a deterioration in large chain stores sales. In addition, single retail stores sales fell.
On a seasonally and calendar adjusted monthly basis, retail sales fell 0.3% in February (January: +0.4% mom), the worst result since July 2022. Meanwhile, annual average retail sales growth rose to 1.1% in February (January: +1.0%). This signals an improving trend in the retail trade sector.