Spain: Retail sales growth gains momentum in July
Retail sales grew 0.5% month-on-month in seasonally adjusted terms in July (June: +0.4% mom). July’s improvement was partly driven by a rebound in large chain stores sales. In contrast, single retail stores sales fell.
On an annual basis, retail sales rose at a quicker rate of 1.0% in July (June: +0.4% yoy), the best result since February. Meanwhile, annual average growth of retail sales was stable at June’s 1.6% in July.