Spain: Retail sales contract at sharpest pace since February in October
Retail sales slid 2.5% in year-on-year terms in October, which contrasted September’s 0.2% increase. October’s figure marked the sharpest contraction since February. The weakening was largely driven by a deterioration in large chain stores sales, which fell at the sharpest pace since March 2013. In addition, single retail stores sales also weakened.
On a seasonally- and calendar-adjusted monthly basis, retail sales fell 0.1% in October (September: +0.3% mom). Meanwhile, annual average growth of retail sales was 2.4% in October, mirroring September’s figure.