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Spain: Retail sales growth ebbs in May
Latest reading: Retail sales increased 0.2% in month-on-month seasonally adjusted terms in May, which was a deterioration from April’s 0.8% increase. May’s figure was partly driven by a deterioration in large chain stores sales. In addition, single retail stores sales lost steam.
On an annual basis, retail sales rose 4.8% in May, which was better than April’s 4.1% expansion and marking the best result since February 2022. Meanwhile, annual average retail sales growth rose to 2.7% in May (April: +2.4%). This signals an improving trend in the retail trade sector.
