Portugal: Retail sales expand for 2nd consecutive month in February
April 24, 2014
In February, retail sales expanded 1.8% over the same month last year, which was down from the 2.2% tallied in January. Despite the deceleration, February's result marked the second consecutive month of expansion in retail sales.
Retail sales have been progressively recovering the ground lost during the last three years of recession. The last two months of expansion have caused average growth in retail sales to jump to minus 0.5%, which is up from the minus 1.2% tallied in January. February's print represents the highest result since January 2009.
FocusEconomics Consensus Forecast panelists expect private consumption to increase 0.8% in 2014, which is unchanged from last month's estimate. For 2015, the panel sees private consumption accelerating to a 1.0% expansion.