Spain: Retail sales fall at sharpest rate since February in December
Retail sales dropped 3.3% year-on-year in December (November: +6.2% yoy). The result marked the worst reading since February. The reading reflected a broad-based downturn across the major sectors, with large chain stores, single retail stores and small chain stores all contracting in December.
On a monthly basis, retail sales plunged 5.9% in seasonally-adjusted terms in December, contrasting November’s 5.6% expansion and marking the worst result since January. Meanwhile, the trend pointed down, with the annual average growth of retail sales coming in at 3.2%, down from November’s 3.5% reading.