FX.co ★ Spain’s Retail Sales Growth Cools Sharply to 2.9% in December

Spain’s retail sector lost momentum at the end of 2025, with year-over-year sales growth slowing to 2.9% in December from a robust 6.0% in November, according to data updated on 29 January 2026.

The figures, measured on a year-over-year basis, show that while retail activity continued to expand in December 2025 compared with December 2024, the pace of growth more than halved from the previous month. November’s reading reflected the change versus November 2024, while December’s result compares with December 2024.

The deceleration suggests that the strong tailwind seen in November did not fully carry into the crucial year-end trading period, potentially signaling more cautious consumer spending or normalization after earlier strength in the sector.