Spain: Retail sales moderate in September
October 31, 2016
In September, Spanish retail sales rose 3.6% over the same month last year. The reading came in below August’s revised 4.8% increase (previously reported: 4.9% year-on-year) and was largely driven by an increase in sales of goods. On a seasonal- and calendar-adjusted basis, retail sales in August expanded 3.2% over the same month of the previous year, down from August’s 3.3% rise.
As growth moderated, so did the trend, which reversed its course in September following August’s increase. As such, annual average growth in retail sales inched down from 4.4% in August to 4.3% in September.
Author: David Ampudia, Economist