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Spain: Retail sales growth speeds up in June
Latest reading: Retail sales increased 1.2% month-on-month in seasonally adjusted terms in June (May: +0.3% mom s.a.). Looking at the details of the release, June’s pickup was broad-based, with the large chain stores, single retail stores and small chain stores sub-sectors all gaining steam.
On an annual basis, retail sales increased 6.2% in June, which was better than May’s 5.0% expansion and marking the best result since January 2022. Accordingly, the trend improved sizably, with the annual average growth of retail sales coming in at 3.4% in June, up from May’s 2.7%.
