Spain's retail sales experienced their slowest growth rate in nearly eighteen months this April, according to data released by the statistical office INE on Wednesday.
Seasonally adjusted retail sales showed a year-over-year increase of 0.3 percent in April, a deceleration from the 0.9 percent growth seen in March. This marks the weakest increase since November 2022, despite a continuous rise in sales since December 2022.
On an unadjusted basis, retail sales rebounded sharply, surging by 2.7 percent compared to the previous year, a significant recovery from the 1.4 percent decline observed in March. March's decline had been the first in sixteen months.
Month-over-month, retail sales climbed by 0.8 percent in April, reversing a 0.4 percent drop in the prior month. Both food and non-food sales contributed to this growth, rising by 1.2 percent and 0.7 percent, respectively.
Additionally, the data revealed that employment in the retail trade sector increased by 1.8 percent on an annual basis.
