Retail sales in Portugal went up 4.5 percent year-on-year in June 2019, following a downwardly revised 4.3 percent rise in the previous month. Sales increased faster for non-food products (5.7 percent vs 3.8 percent in May) and eased for food, drinks and tobacco (2.9 percent vs 4.9 percent). On a monthly basis, retail sales dropped 0.9 percent, after a 1.3 percent gain in May. Retail Sales YoY in Portugal averaged 1.33 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 2.80 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.