Spain: Retail sales lose steam in August
September 29, 2015
In August, retail sales rose 3.2% over the same month last year, which was below July’s revised 4.0% increase (previously reported: +4.2% year-on-year). August’s result marked a three-month low. The moderation was partly due to lower sales of food products and slower sales growth of personal equipment. On a working-day adjusted basis, retail sales in August expanded 3.1% over the same month last year, which was below July’s 4.1% rise.
Meanwhile, the trend continued to improve as annual average growth in retail sales increased from the 2.7% tallied in July to 3.1% in August, thus remaining at the highest level since November 2007.