Spain: Retail sales plunge at sharpest pace in eight months in January
Retail sales collapsed 10.9% compared to the same month of 2020 in January 2021, after falling 0.6% in December.
Looking at the details of the release, January’s plunge reflected a broad-based deterioration across all types of stores. Sales at single retail, small chain, department stores and large chain stores all declined at sharp paces in the month.
On a seasonally- and calendar-adjusted monthly basis, retail sales tumbled 7.6% in January, contrasting the 1.3% rise logged in December and marking the worst reading since April 2020. Lastly, the trend pointed down, with the annual average variation of retail sales coming in at minus 7.7% in January, down from December’s minus 6.8% reading.