Spain: Retail sales record largest decrease in six months in August
Retail sales slid 0.1% year-on-year in August (July: +0.1% yoy). August’s result marked the steepest fall since February. The figure was largely driven by a deterioration in large chain stores sales, which fell at the sharpest pace since February. In addition, single retail stores sales also contracted.
On a seasonally- and calendar-adjusted monthly basis, retail sales fell at 0.2% in August (July: 0.0% mom). Meanwhile, annual average retail sales growth rose to 2.2% in August (July: +1.8%). This signals an improving trend in the retail trade sector.