Spain: Retail sales rebound in August
October 1, 2018
Retail sales rose a mild 0.3% in year-on-year terms in August, rebounding from the 0.7% dip logged in July. August’s upturn largely reflected a rebound in food sales.
On a distribution-based system, sales at single retail stores contracted for the fourth consecutive month in August, albeit at a softer pace than in July. In addition, purchases at both small chain and department stores fell again in August. Meanwhile, sales at large chain stores increased at a stronger clip compared to the previous month.
Annual average retail sales growth remained steady at July’s 0.8% in August, a year-to-date low.
Spain Private Consumption Forecast
FocusEconomics Consensus Forecast panelists see private consumption expanding 2.4% in 2018, which is unchanged from last month’s forecast. For 2019, the panel sees private consumption growing at 2.1%, also unchanged from last month’s projection.
Author: Javier Colato, Economist