Spain: Retail sales record largest expansion since March 2007
January 29, 2015
In December, retail sales rose 5.4% over the same month last year, which represented a significant increase over November’s revised 0.3% expansion (previously reported: +0.5%). December’s print marked the highest rate since March 2007. The acceleration mainly reflected greater sales at service stations as well as stronger purchases of food at general shops. On a working-day adjusted basis, retail sales expanded 6.5% over the same month last year in December (November: +1.9% yoy).
Annual average growth in retail sales increased from the previous month’s 0.4% to 0.9% in December, which marked the highest level since February 2008.