Economic news
27.05.2022

Retail sales in Spain rose sharply in April

The National Statistics Institute (INE) said that retail sales increased by 5.3% in April, offsetting most of the 4.3% drop in March (revised from -3.8%). The latest increase was the most significant in 5 months, and also exceeded economists' forecasts (+2.1%). Meanwhile, retail sales, excluding service stations, increased by 4.1%. By products, food sales decreased by 4.2% and non-food products increased by 10.1%. If the latter is broken down by type of product, personal equipment sales increased the most (+17.9%).

In annual terms, retail sales increased by 1.5% after falling by 4.1% in March (revised from -4.2%). Consensus estimates suggested a drop of 1.9%. Sales of non-food products were up 0.2%, as higher purchases of personal equipment (32.3%) more than offset declines in those of household equipment (-3.3%) and other goods (-1.1%). Meanwhile, sales of food decreased by 3%. Meanwhile, retail sales, excluding service stations, fell 0.6%.

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