Retail

Spain's retail sector sees growth in August 2023

30 Sep '23

2 min read

Pic: Terence Toh Chin Eng / Shutterstock.com

Insights

Spain's retail trade index rose 0.4 per cent month-on-month in August 2023, a slight increase from July 2023, according to the National Statistics Institute (NSI).
Year-on-year, the index saw a 7.2 per cent growth, although this marked a small decline from July's figures.
Employment in retail grew 1.7 per cent year-on-year but showed signs of slowing.

Spain's general retail trade index (RTI) at constant prices saw a monthly uptick of 0.4 per cent between August 2023 and July 2023, according to data from the National Statistics Institute (NSI). This rate was a tenth higher than that recorded in the previous month.

Breaking down the figures by product category, non-food products saw an increase of 0.8 per cent, while the ‘other goods’ category experienced the most significant monthly growth at 1.7 per cent. All types of distribution channels showed positive monthly rates, except for small chain stores, which remained static at 0 per cent. Single retail stores marked the highest growth, with an increase of 1.5 per cent, as per NSI.

The RTI, adjusted for seasonality and calendar effects, registered an annual variation of 7.2 per cent in August, slightly lower by a tenth than the figure for July. The unadjusted RTI series posted an annual increase of 7 per cent, which is seven tenths less than the rate recorded in the previous month.

In terms of employment in the retail sector, there was a 1.7 per cent increase in August compared to the same month in 2022. However, this figure was three tenths below the rate seen in July, suggesting a slight slowdown in job creation within the sector.

Fibre2Fashion News Desk (DP)

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