Retail

Spain sees retail trade growth in November; monthly sales up 0.9%

30 Dec '23

2 min read

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Insights

Spain's Retail Trade Index has seen an increase with a 0.9 per cent monthly rise and a 5.2 per cent annual increase, indicating a positive trend in the retail sector.
Particularly, large chain stores and non-food products sales have shown growth.
Additionally, employment in the retail sector has also increased by 2.0 per cent compared to the previous year.

Spain's Retail Trade Index (RTI) has demonstrated a positive shift, indicating a growth in the retail sector. The monthly variation of the RTI at constant prices, adjusted for season and calendar, has risen by 0.9 per cent between October and November. This increase is notably higher than the preceding month by nine-tenths, as per provisional data released by the Spanish statistical institute INE.

Excluding service stations, the general index showed an even more substantial monthly rise of 1.4 per cent. Product-wise, food sales saw an increase of 0.8 per cent, whereas non-food products jumped by 2.0 per cent.

While single retail stores maintained a steady rate, large chain stores led with the most significant increase in sales, marking a 2.4 per cent growth.

The General Retail Trade Index at constant prices, with seasonal and calendar adjustments, shows an annual increase of 5.2 per cent compared to November of the previous year, slightly lower than October's rate. Meanwhile, the original series of the RTI at constant prices reflects a higher annual increase of 5.7 per cent, 1.2 points above the previous month, the INE said in a press release.

When excluding service stations, the adjusted annual variation stands at 6.8 per cent. A breakdown by product type reveals a 1.5 per cent rise in food sales and a significant 12.9 per cent increase in non-food products.

Parallel to the growth in sales, the employment index in Spain's retail trade sector also shows positive trends, registering a 2.0 per cent increase compared to November 2022. This rate is notably higher by five-tenths than what was recorded in October, indicating strengthening employment within the retail sector.

Fibre2Fashion News Desk (KD)

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