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Financial News: Spain Retail Sales Fall Most On Record

Spain Retail Sales Fall Most On Record

04/29/2020 - 07:51:00 (RTTNews)

(RTTNews) - Spain retail sales logged a double-digit record decline in March as measures to contain the spread of coronavirus, or covid-19, weighed on non-food product turnover, data from the statistical office INE showed Wednesday.

Retail sales declined by an adjusted 14.1 percent on a yearly basis, reversing a 1.8 percent rise in February. This was the biggest decline on record.

On an adjusted basis, retail sales decreased 14.3 percent after rising 5.5 percent in February.

Month-on-month, retail sales fell for the first time in three months. Sales were down 15.3 percent, reversing a 0.3 percent rise a month ago.

Food sales advanced 8.4 percent on month, while non-food sales declined sharply by 32 percent in March.

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