Spain Retail


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.

FocusEconomics Consensus Forecast panelists see private consumption expanding 1.8% in 2015, which is up 0.1 percentage points from last month’s forecast. For 2016, the panel sees private consumption growth at 1.9%.

Author: Angela Bouzanis, Senior Economist

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Spain Retail Chart

Spain Retail December 2014

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

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