Spain: Retail sales growth picks up to near four-year high in February
March 30, 2020
Retail sales soared 5.5% year-on-year in February, accelerating from the 0.9% rise logged in January and marking the strongest increase since June 2016. February’s pick-up mainly reflected a return to growth in sales of personal and equipment goods, and food sales gathering momentum compared to January.
On a distribution-based system, purchases at small and large chain, and department stores picked up markedly in February, while those at single retail stores rebounded from the previous month.
Meanwhile, annual average retail sales growth edged up to 2.6% in February from 2.3% in the previous month.
Author: Javier Colato, Economist