Financial News: Spain Retail Sales Expand Least In 17 Months

Spain Retail Sales Expand Least In 17 Months

05/29/2024 - 05:24:00 (RTTNews)

(RTTNews) - Spain's retail sales increased at the slowest pace in nearly one-and-a-half years in April, the statistical office INE reported on Wednesday.

Retail sales increased by a seasonally adjusted 0.3 percent year-over-year in April, slower than the 0.9 percent gain in March.

Sales have been rising since December 2022, and the latest increase was the weakest since November 2022.

On an unadjusted basis, retail sales rebounded strongly by 2.7 percent from last year versus a 1.4 percent decline in March, which was the first fall in sixteen months.

Month-on-month, retail sales grew 0.8 percent in April, in contrast to a 0.4 percent fall in the previous month. Both food and non-food sales increased by 1.2 percent and 0.7 percent, respectively.

Data showed that employment in retail trade rose by 1.8 percent on a yearly basis.

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