Spain Retail October 2022

Spain

Spain: Retail sales notch quickest growth since May in October

December 1, 2022

Retail sales grew 1.4% year on year in October (September: +0.6% yoy). The print marked the best reading since May. The reading reflected a broad-based improvement, with activity in the large chain stores, single retail stores and small chain stores sub-sectors all improving in October.

On a seasonally and calendar adjusted monthly basis, retail sales rose at a quicker rate of 0.4% in October (September: +0.3% mom). Meanwhile, annual average retail sales growth rose to 0.6% in October (September: +0.3%). This signals an improving trend in the retail trade sector.

FocusEconomics Consensus Forecast panelists see private consumption growing 0.8% in 2023 and 2.0% in 2024.


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