Spain Retail 2017

Spain

Spain: Retail sales growth rebounds in May

June 29, 2017

Retail sales growth in Spain seems to have regained its momentum after an erratic start to the year. Against a backdrop of strong employment gains and softening inflation, retail sales expanded 3.8% in annual terms in May, which contrasted April’s 1.0% decrease and marked the largest increase in nine months.

The upswing in sales was driven by broad-based growth across components. Food purchases increased robustly from the same month of the previous year in May, while home and personal equipment both posted strong gains through the month.

In line with the headline increase, the annual average growth in retail sales inched up to 2.1% in May from 2.0% in April, which had marked the weakest rate of growth in nearly two years.

FocusEconomics Consensus Forecast panelists see private consumption expanding 2.3% in 2017, which is down 0.1 percentage points from last month’s forecast. For 2018, the panel sees private consumption growing at 2.0%.


Author:, Economist

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Spain Retail Chart


Spain Retail May 2017

Note: Year-on-year and annual average variation of retail sales.
Source: National Statistical Institute (INE) and FocusEconomics calculations.


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