FX.co ★ Spain Retail Sales Continue To Expand At Softer Pace

Spain's retail sector experienced further modest growth in June, according to the latest report from the statistical office INE.

Seasonally adjusted retail sales rose by 0.3% year-over-year in July, up from a 0.2% gain in May. This marks continuous growth in retail sales since December 2022.

However, on an unadjusted basis, retail sales experienced a 1.5% decrease compared to last year, overturning May's 0.4% decline, as indicated by the preliminary data.

Month-over-month, retail sales showed a recovery with a 0.3% increase in June, contrasting with a 0.6% drop in the prior month. Both food and non-food sales contributed to this rebound, with increases of 0.5% and 0.4%, respectively.

The report also highlighted a 1.5% year-over-year rise in employment within the retail trade sector.