A report from the Instituto Nacional de Estadística (INE) showed on Friday that Spain’s retail sales decreased 0.6 per cent m-o-m in November after a flat m-o-m performance in the
previous month. This was the first monthly decline since May (-0.5 per cent
m-o-m) and the steepest one since December 2023 (-0.8 per cent m-o-m).
According to the report, the November m-o-m decrease in total retail sales
reflected declines both in food (-0.7 per cent m-o-m) and non-food (-0.8 per
cent m-o-m) products. In addition, retail sales at service stations fell
marginally (-0.1 per cent m-o-m).
On a y-o-y basis, Spain’s retail sales jumped 1.0 per cent in November,
following a downwardly revised 3.5 per cent increase (from +3.5 per cent) in October.
This marked the weakest annual gain since June (+0.6 per cent). Economists had
forecast a climb of 2.8 per cent.