Spain Retail July 2021

Spain

Spain: Retail sales record slowest expansion since February in July

September 1, 2021

Retail sales grew 0.1% year-on-year in July, softening from the 1.4% growth tallied in June. July's outturn marked the worst reading since February. The slowdown was partly due to falling sales in large chain stores sales. In contrast, single retail stores sales dropped at a softer rate.

On a monthly basis, retail sales increased 0.1% in seasonally-adjusted terms in July, matching June’s expansion. Meanwhile, the trend improved, with the annual average growth of retail sales coming in at an over one-year high of plus 1.8% in July, up from June's 1.4%.

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


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Spain Retail July 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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