Spain: Retail sales growth loses steam in April
May 30, 2018
Retail sales rose 0.7% in year-on-year terms in April, below the 1.5% increase recorded in March and the lowest reading in six months. April’s moderation was chiefly driven by a mild contraction in food sales and a significant drop in sales of personal equipment goods.
On a distribution-based system, purchases at single retail stores contracted for the third consecutive month while department store sales dropped for the first time in six months. Meanwhile, sales at small and large chain stores slowed down compared to March.
Annual average retail sales growth inched up from 1.3% in March to 1.4% in April, a nine-month high.
Spain Private Consumption Forecast
FocusEconomics Consensus Forecast panelists see private consumption expanding 2.4% in 2018, which is unchanged from last month’s forecast. For 2019, the panel sees private consumption growing at 2.1%.
Author: Javier Colato, Economist