Financial News: Spain Retail Sales Growth Weakest In 5 Months

Spain Retail Sales Growth Weakest In 5 Months

12/27/2024 - 05:51:00 (RTTNews)

(RTTNews) - Spain's retail sales growth eased further in November to the lowest level in five months, data from the statistical office INE showed Friday.

Retail sales climbed 1.0 percent on a yearly basis, following a 3.4 percent rise in October. Further, this was the slowest growth since June, when sales had risen 0.6 percent.

The annual sales growth in non-food products moderated to 1.2 percent from 5.9 percent in October. Similarly, sales of food products rose at a slower pace of 1.5 percent. Meanwhile, sales at service stations showed a flat change.

On an unadjusted basis, annual growth in retail sales eased to 2.0 percent from 5.4 percent a month ago.

Month-on-month, retail sales dropped 0.6 percent after remaining flat in the previous month. This was the first decline in six months.

Further, data showed that employment in the retail sector posted an annual increase of 1.9 percent.

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