Spain: Retail sales contract in February
Latest reading: Retail sales declined 0.1% in working-day and seasonally adjusted month-on-month terms in February, following a flat reading in the prior month.
Relative to the prior month’s figures, the reading for large chain stores softened in February (+0.3% on a working-day and seasonally adjusted month-on-month basis vs +0.6% in January). In contrast, readings picked up for single retail stores (+0.6% vs -0.6% in January) and small chain stores (+0.6% vs -1.4% in January).
On a year-on-year basis, retail sales increased 2.2% in February, following 3.8% growth in the prior month.