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Spain: Retail sales record 3rd consecutive increase in May

June 27, 2014

In May, retail sales added 0.8% over the same month last year, which followed the 0.1% increase tallied in April. The print marked the third consecutive monthly expansion and the highest rate in six months. May’s improvement mostly reflects a healthy expansion in household goods. On a working-day adjusted basis, retail sales expanded 0.5% over the same month last year (April: +0.7% year-on-year).

Annual average variation in retail sales improved from minus 1.2% in April to minus 0.8% in May, marking the highest level since May 2008.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 1.3% in 2014, which is up 0.1 percentage points over last month’s projection. The panel sees private consumption growth at 1.4% in 2015.


Author: Ricard Torné, Head of Economic Research

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Spain Retail Chart


Spain Retail May 2014

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


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