FX.co ★ Spain Retail Sales Growth Eases Sharply

Retail sales growth in Spain experienced a slowdown for the second consecutive month in January, according to information provided by the country's statistical office, INE. The year-on-year sales in January only saw a modest 0.3 percent increase, a stark contrast from the 2.7 percent growth in December. However, without seasonal adjustments, retail sales growth picked up the pace to reach 2.1 percent, up from 1.1 percent just a month earlier. The data also revealed that there was a monthly decline in retail sales by 0.5 percent after a decrease of 1.1 percent. As per the breakdown, food sales went down by 1.1 percent and sales of non-food items reduced by 1.2 percent.