Spain: Retail sales rebound in January
Retail sales rose 3.8% year-on-year in January (December: -3.1% yoy). The reading reflected a broad-based improvement across the major sectors, with large chain stores and small chain stores rebounding and single retail stores contracting at a softer pace in Janaury.
On a monthly basis, retail sales dropped 0.3% in seasonally-adjusted terms in January, following December’s 6.1% plunge. Meanwhile, the trend pointed up, with the annual average growth of retail sales coming in at 4.6%, up from December’s 3.2% reading.