Spain: Retail sales rebound strongly in October
November 29, 2018
Retail sales leaped 4.7% in year-on-year terms in October, contrasting the 3.1% dip logged in September and marking the sharpest increase since August 2016. October’s climb largely reflected the strong rebound in sales of food and personal equipment goods compared to last month.
On a distribution-based system, the upturn was broad-based across store types. Sales at small chain and department stores bounced back to growth in October after contracting for three consecutive months while purchases at single retail and large chain stores rebounded from their slump in the previous month.
Annual average retail sales growth rose to 1.0% in October from 0.4% in September, which had marked the lowest reading in nearly four years.
Author: Javier Colato, Economist