Spain Retail Sales Rebound In December

Spain retail sales rebounded at the end of the year underpinned by a sharp increase in non-food product turnover, data from the statistical office INE showed on Monday.
Retail sales posted an annual growth of 4.0 percent in December, reversing November’s 0.5 percent decrease.

Food sales declined 2.6 percent, while non-food product sales registered a sharp 9.5 percent expansion.

On an unadjusted basis, sales grew 3.5 percent after a 0.7 percent decrease a month ago.

Month-on-month, retail sales decreased 1.7 percent, in contrast to the 3.2 percent increase in November. This was the first fall in five months.

Both food and non-food product sales declined from a month ago. Food sales were down 0.2 percent and non-food products posted a bigger fall of 1.6 percent.