Spain: Retail sales rebound in February
Latest reading: Retail sales increased 1.3% month-on-month in seasonally adjusted terms in February (January: -1.2% mom). Looking at the details of the release, February’s rebound was broad-based, with the large chain stores, single retail stores and small chain stores sub-sectors all accelerating.
On an annual basis, retail sales increased 3.6% in February, which was above January’s 2.3% expansion. Meanwhile, the trend pointed down, with the annual average growth of retail sales coming in at 1.9%, down from January’s 2.2% reading.