Retail Sales in Spain
Spain - Retail Sales
Retail sales growth slows notably in July
The expansion in retail sales moderated at the outset of the third quarter, with July sales only growing 0.7% in annual terms. This was notably below the revised 3.0% increase recorded in the previous month (previously reported: +2.8% year-on-year) as a result of weaker growth in food purchases and household equipment sales. Meanwhile, on a seasonally- and calendar-adjusted basis, retail sales swung from a 0.4% increase in June to a 0.5% drop in July, the worst figure in more than two years.
July’s retail sales report spells bad news for the Spanish economy as it indicates that household spending, the cornerstone of the Spanish recovery, could have entered the second half of the year on much weaker footing. Due to July’s sharp deceleration, the annual average growth in retail sales eased from 1.9% in June to 1.7% in July, which marks the weakest rate of growth since February 2015.
FocusEconomics Consensus Forecast panelists see private consumption expanding 2.6% in 2017, which is unchanged from last month’s forecast. For 2018, the panel sees private consumption growing at 2.2%.
Spain - Retail Sales Data
|Retail Sales (annual variation in %)||-7.0||-3.9||0.9||3.6||3.7|
5 years of economic forecasts for more than 30 economic indicators.
Spain Retail Sales Chart
Source: National Statistical Institute (INE).
|Bond Yield||1.57||2.48 %||Sep 21|
|Exchange Rate||1.19||-0.61 %||Sep 21|
|Stock Market||10,297||0.05 %||Sep 21|
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August 31, 2017
The expansion in retail sales moderated at the outset of the third quarter, with July sales only growing 0.7% in annual terms.
August 31, 2017
The current account balance recorded a surplus of EUR 1.4 billion in June, which was markedly below the EUR 2.6 billion surplus in May, and below the EUR 1.6 billion surplus recorded in June of last year.
August 24, 2017
The Spanish economy accelerated at its fastest pace in almost two years in the second quarter, with GDP growing 0.9% compared to the previous quarter on a seasonally-adjusted basis, according to comprehensive data released by the National Statistics Office (INE) on 24 August.
August 4, 2017
The industrial sector ended the quarter on a strong note, with output growth decelerating only slightly in June from May’s strong increase.
August 3, 2017
The IHS Markit Purchasing Managers’ Index (PMI) Composite Output Index fell to 56.7 in July from 57.7 in June as operating conditions in both the services and manufacturing sectors suggested slightly weaker expansions.