Spain: Retail sales growth falls to 10-month low in February
Retail sales grew 1.7% in year-on-year terms in February, which was a deterioration from January’s 3.5% increase. The deceleration was chiefly driven by a contraction in large chain stores sales. In addition, small chain stores sales lost pace.
On a seasonally- and calendar-adjusted monthly basis, retail sales rose 0.7% in February (January: -0.3% mom). Meanwhile, the trend improved, with the annual average growth of retail sales coming in at 5.5%, up from January’s 4.5%.