Spain: Retail sales growth rises in November
Retail sales grew 5.7% year on year in November (October: +4.5% yoy). Looking at the details of the release, November’s pickup was broad-based, with the large chain stores, single retail stores and small chain stores sub-sectors all gaining steam.
On a monthly basis, retail sales increased 0.9% in seasonally adjusted terms in November, which was better than October’s flat reading and marked the best result since April. Meanwhile, the trend improved notably, with the annual average growth of retail sales coming in at 6.2%, up from October’s 5.6%.