Spain: Retail sales growth eases in September

Retail sales increased 0.5% in year-on-year terms in September, which followed August's 0.8% increase. The reading largely reflected weaker large chain stores sales. In addition, small chain stores sales contracted.

On a seasonally and calendar adjusted monthly basis, retail sales rose at a more moderate pace of 0.2% in September (August: +0.3% mom). Meanwhile, annual average retail sales growth rose to 0.3% in September (August: +0.2%). This signals an improving trend in the retail trade sector.

FocusEconomics Consensus Forecast panelists see private consumption growing 6.1% in 2022 and 2.7% in 2023.