Spain Retail November 2021


Spain: Retail sales post quickest growth since May in November

January 3, 2022

Retail sales expanded 5.9% compared to the same month of the previous year in November, which contrasted October's 2.5% decrease. November's reading marked the best result since May. Looking at the details of the release, November's pick up was broad-based, with the large chain stores, single retail stores and small chain stores sub-sectors all gaining steam.

On a seasonally- and calendar-adjusted monthly basis, retail sales rose 5.1% in November (October: -0.1% mom), the best result since June 2020. Meanwhile, annual average retail sales growth rose to 3.5% in November (October: +2.4%), signaling an improving trend in the retail trade sector.

FocusEconomics Consensus Forecast panelists see private consumption growing 6.1% in 2022 and 2.7% in 2023.


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Spain Retail Chart

Spain Retail November 2021 0

Note: Year-on-year and annual average variation of retail sales in %.
Source: National Statistical Institute (INE) and FocusEconomics calculations.

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