Spain: Retail sales improve in December
Retail sales rose 3.5% year on year in December 2022 (November: -0.7% yoy). The turnaround was largely driven by expansions in large chain stores and small retail stores sales.
On a seasonally and calendar adjusted monthly basis, retail sales shrank 1.7% in December (November: +3.2% mom), the best worst since March 2022. Meanwhile, the trend pointed up, with the annual average increase in retail sales coming in at 1.7%, up from November’s 0.0% reading.