Spain's retail sales growth moderated in March after accelerating in the previous month, the statistical office INE reported on Friday.
Retail sales increased by a seasonally adjusted 0.6 percent year-over-year in March, slower than the 1.8 percent gain in February. Sales have been rising since December 2022.
On an unadjusted basis, retail sales declined 1.6 percent from last year versus a 4.9 percent increase in February. In addition, this was the first fall in sixteen months.
Month-on-month, retail sales dropped 0.5 percent in March, in contrast to a 0.5 percent recovery in the previous month. Both food and non-food sales decreased by 1.0 percent and 0.3 percent, respectively.
Data showed that employment in retail trade increased by 2.2 percent on a yearly basis.
Economic News