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FX.co ★ Spain Retail Sales Growth At 8-Month High

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typeContent_19130:::2024-09-26T08:22:00

Spain Retail Sales Growth At 8-Month High

In August, Spain experienced its fastest retail sales growth in eight months, according to data released on Thursday by the National Statistics Institute (INE).

Retail sales surged by 2.3 percent year-on-year, up from a 1.1 percent increase in July. This marks the most substantial growth since December, when sales saw a 2.8 percent rise.

Unadjusted figures revealed a year-on-year retail sales growth of 3.2 percent, an improvement from the previous month's 2.9 percent.

Month-over-month, retail sales edged up by 0.4 percent, following a 0.5 percent increase in the prior month, marking the third consecutive month of gains.

In the breakdown, food sales dipped by 0.2 percent compared to the previous month, while non-food sales rose by 0.5 percent.

Additionally, the data indicated that employment in the retail sector increased by 2.0 percent year-on-year, though there was a 0.5 percent decline compared to the preceding month.

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