Spain Retail June 2022

Retail sales expanded 0.2% YoY in June (May: +2.8% YoY). The June reading was largely driven by deteriorating department store sales. In addition, individual retailer sales declined.

On a monthly basis, retail sales fell 0.1% on a seasonally adjusted basis in June, to match the decline in May. Meanwhile, average annual retail sales growth fell to 0.4% in June (May: +0.6%), its lowest level in more than a year.

Members of the FocusEconomics Consensus forecast committee see private consumption growth of 6.1% in 2022 and 2.7% in 2023.

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