Spain: Retail sales fall in May
Retail sales dropped 0.6% in month-on-month seasonally adjusted terms in May, which contrasted April’s 0.8% increase. May’s outturn marked the worst reading since December 2023. Looking at the details of the release, large chain stores sales grew at a softer rate in May, and single retail stores sales swung to contraction.
On an annual basis, retail sales increased 0.2% in May, which was below April’s 0.3% expansion and marking the worst result since November 2022. Moreover, the trend pointed down, with the annual average growth of retail sales coming in at 2.0%, down from April’s 2.3%.