Spain Retail August 2021

Spain

Spain: Retail sales record largest decrease in six months in August

September 30, 2021

Retail sales slid 0.1% year-on-year in August (July: +0.1% yoy). August's result marked the steepest fall since February. The figure was largely driven by a deterioration in large chain stores sales, which fell at the sharpest pace since February. In addition, single retail stores sales also contracted.

On a seasonally- and calendar-adjusted monthly basis, retail sales fell at 0.2% in August (July: 0.0% mom). Meanwhile, annual average retail sales growth rose to 2.2% in August (July: +1.8%). This signals an improving trend in the retail trade sector.

FocusEconomics Consensus Forecast panelists see private consumption growing 6.2% in 2021 and 5.3% in 2022.


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Spain Retail August 2021

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


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