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Retail Sales Grow Slightly In June, Consistent With Surveys

SPAIN DATA
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Spanish June retail sales rose 0.3% M/M (vs -0.6% prior) and 0.3% Y/Y (vs 0.1% prior), using SWDA data. On a 3m/3m SWDA basis, sales rose 0.4% (vs 0.1% prior).

  • Overall, the relatively subdued growth in retail sales is consistent with the EC’s business survey, where retail sentiment hovers only slightly in positive territory.
  • In June, a 1.0% M/M fall in service station sales dragged the headline index lower, with retail sales ex-service stations growing 0.5% M/M.
  • Spanish Q2 preliminary GDP is due next Tuesday, and should show better growth than other major Eurozone countries for the second consecutive quarter, in line with recent PMI data.

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Spanish June retail sales rose 0.3% M/M (vs -0.6% prior) and 0.3% Y/Y (vs 0.1% prior), using SWDA data. On a 3m/3m SWDA basis, sales rose 0.4% (vs 0.1% prior).

  • Overall, the relatively subdued growth in retail sales is consistent with the EC’s business survey, where retail sentiment hovers only slightly in positive territory.
  • In June, a 1.0% M/M fall in service station sales dragged the headline index lower, with retail sales ex-service stations growing 0.5% M/M.
  • Spanish Q2 preliminary GDP is due next Tuesday, and should show better growth than other major Eurozone countries for the second consecutive quarter, in line with recent PMI data.