Spain: Retail sales growth slows sharply in June
Retail sales increased 1.8% year-on-year in June (May: +18.9% yoy). June’s notable deceleration largely reflected easing large chain stores and small chain sales as well as downturns in sales at department and single retail stores.
On a seasonally- and calendar-adjusted monthly basis, retail sales recorded 0.2% growth in June (May: +0.0% mom). Meanwhile, the trend improved, with the annual average growth in retail sales coming in at 1.5% in June, following May’s 1.0%.