FX.co ★ Spain Retail Sales Growth Accelerates

The National Institute of Statistics in Spain reported a notable acceleration in retail sales growth in February. Adjusted annual retail sales saw an increase of 1.9%, a significant uptick from the mere 0.5% rise observed in January.

Retail sales growth, on an unadjusted basis, also picked up pace to 4.8% in February from 2.3% in the preceding month. When viewed on a monthly basis, retail sales improved by 0.5% in February, effectively countering the 0.4% decline recorded in the previous month. While food sales grew by 0.7%, non-food product sales witnessed a 0.1% decrease.

Additionally, employment in the retail sector showed a yearly growth of 2.1%, as per the revealed data.