Spain Retail January 2017

Spain

Spain: Retail sales shrink for first time in two years in January

March 10, 2017

Retail sales decreased 0.1% year-on-year in January, a downswing from December’s 0.9% increase. January marked the worst month for retail sales in two and a half years. Sales growth across sub-components was mixed: while food, personal and home equipment sales grew, sales in other goods fell and dragged on the overall outcome. On a seasonal- and calendar-adjusted basis, retail sales in January declined a more pronounced 1.3% compared to the same month in 2016, which contrasted December’s revised figure of 2.8% (previously reported: +2.9% year-on-year).

Annual average growth in retail sales dropped to 3.5% in January from 3.7% in December, the lowest result in a year.

FocusEconomics Consensus Forecast panelists see private consumption expanding 2.3% in 2017, which is down 0.1 percentage points from last month’s forecast. For 2018, the panel sees private consumption growing at 2.0%.


Author:, Economist

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Spain Retail Chart


Spain Retail January 2017

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


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