Spain Retail


Spain: Retail sales slow in October following September's strong expansion

November 28, 2014

In October, retail sales rose 2.1% over the same month last year, which followed September’s revised 2.7% expansion (previously reported: +2.9% year-on-year). September’s print had marked the highest rate since March 2010. The slight deceleration tallied in October mainly reflected lower sales at service stations as well as weaker purchases of food at general shops. On a working-day adjusted basis, retail sales expanded 1.0% over the same month last year in October (September: +0.8% yoy).

Annual average growth in retail sales increased from the previous month’s 0.3% to 0.5% in October, which marked the highest level since April 2008.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 1.9% in 2014, which is unchanged from last month’s projection. The panel sees private consumption growth at 1.8% in 2015, which is also unchanged from last month’s estimate.

Author: Ricard Torné, Lead Economist

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Spain Retail Chart

Spain Retail October 2014

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

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