Retail sales in Portugal rose 6.5 percent year-on-year in April of 2019, accelerating from an upwardly revised 4.5 percent increase in the previous month. It was the highest gain in retail trade activity since December of 2005, as sales of food, beverages & tobacco jumped 6.4 percent (from 1 percent in March) and those of non-food products advanced 6.9 percent (from 9.9 percent). On a monthly basis, retail sales dropped 1 percent, following an upwardly revised 1.7 percent gain in March. Retail Sales YoY in Portugal averaged 1.31 percent from 1996 until 2019, reaching an all time high of 18.70 percent in March of 1996 and a record low of -11.20 percent in October of 2011.
Retail Sales YoY in Portugal is expected to be 3.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Retail Sales YoY in Portugal to stand at 2.50 in 12 months time. In the long-term, the Portugal Retail Sales YoY is projected to trend around 2.30 percent in 2020, according to our econometric models.