Spain: Retail sales growth slows in June
July 26, 2017
Retail sales recorded another solid performance in June expanding 2.8% in annual terms, which was however lower than May’s 3.8% expansion. The growth in sales was driven by food purchases and household equipment. Meanwhile, on a seasonally- and calendar-adjusted basis, retail sales expanded 0.6% in monthly terms in June, which was above May’s 0.4% increase.
Due to June’s deceleration, the annual average growth in retail sales inched down from 2.1% in May to 1.9% in June, which marks the weakest rate of growth since March 2015.
Author: Lindsey Ice, Economist