Spain: Retail sales rebound in March
April 30, 2014
In March, retail sales expanded 0.5% over the same month last year, which contrasted the 0.4% decline tallied in February and ended a streak of three consecutive months of contractions. The monthly improvement was the result of an expansion in both sales at service stations and sales of household equipment. On a working-day adjusted basis, retail sales declined 0.5% over the same month last year (February: -0.4% year-on-year).
Annual average variation in retail sales improved from minus 2.4% in February to minus 1.5% in March, marking the highest level since November 2010.
FocusEconomics Consensus Forecast panelists expect private consumption to expand 1.1% in 2014, which is up 0.1 percentage points over last month's projection. The panel sees private consumption growth at 1.3% in 2015.