Spain: Retail sales record lowest expansion since April in September
Retail sales grew 6.0% year on year in September (August: +6.9% yoy). The outturn marked the worst reading since April. Looking at the details of the release, large chain stores sales gained traction in September, while single retail stores sales grew at a softer pace. Meanwhile, small chain stores sales accelerated.
On a monthly basis, retail sales rose 0.2% in seasonally adjusted terms in September, which was below August’s 0.3% expansion and marked the worst result since February. Meanwhile, annual average retail sales growth rose to 5.4% in September (August: +4.9%). This signals an improving trend in the retail trade sector.