Spain: Retail sales rebound in June
Retail sales grew 0.3% month-on-month in seasonally adjusted terms in June (May: -0.6% mom). Looking at the details of the release, single retail stores sales, and small chain stores sales gained momentum. That said, large chain stores sales decreased in June.
On an annual basis, retail sales rose 0.3% in June, which was above May’s 0.2% expansion. Meanwhile, annual average retail sales growth fell to 1.6% in June (May: +2.0%), signaling a worsening trend in the retail trade sector.