Spain's retail sales surged in September at the most rapid rate observed in eighteen months, according to the INE statistical office's latest report released on Monday.
Retail sales experienced a 4.1% increase year-over-year, building on the 2.4% rise recorded in August. This marks the fastest growth pace since March 2023, when the sales posted a similar 4.1% uptick.
In detail, sales of non-food items rose by 4.8% compared to the same month last year, while food products experienced a 3.3% increase. There was a notable 6.4% rise in sales at service stations as well.
However, when adjusted for seasonal fluctuations, the annual growth in retail sales slowed to 1.7% from the previous month's 3.1%.
On a monthly scale, retail sales saw a modest 1.0% rise, following a 0.4% gain in the prior month, marking the fourth straight month of growth.
Moreover, employment figures within the retail sector showed an annual boost of 1.7%, even though there was a 1.6% decline on a month-to-month basis.
