Spain: Retail sales jump in November
December 28, 2016
Retail sales in Spain rose 4.0% year-on-year in November, well above October’s mild 0.6% increase. The reading in October had marked the lowest figure in almost two years. Positive growth was observed across all sub-components in November, with household and personal equipment expanding the most. On a seasonal- and calendar-adjusted basis, retail sales in November expanded 3.3% compared to the same month last year, up from October’s revised figure of 2.1% (previously reported: +2.2% year-on-year).
Annual average growth in retail sales dropped slightly from 4.0% in October to 3.9% in November, the smallest increase in eight months.
Author: David Ampudia, Economist