Spain's retail trade increased 3.2 percent from a year earlier in August 2019, easing from an upwardly revised 3.3 percent rise in the previous month but beating market expectations of a 2.8 percent gain. Sales of food went up 1.7 percent, the same pace as in July while those of non-food products advanced 4.5 percent (vs 4.1 percent in July). Within non-food items, sales rose further for personal equipment (2.4 percent vs 2.2 percent); and other goods (4.1 percent vs 4 percent). On the other hand, sales of household equipment slowed (2.3 percent vs 2.7 percent), On a monthly basis, retail trade went up 0.2 percent, the same pace as in the prior month. Retail Sales YoY in Spain averaged 0.03 percent from 2001 until 2019, reaching an all time high of 6.80 percent in December of 2003 and a record low of -11.40 percent in September of 2012.
Retail Sales YoY in Spain is expected to be 1.10 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 Spain to stand at 1.40 in 12 months time. In the long-term, the Spain Retail Sales YoY is projected to trend around 2.20 percent in 2020, according to our econometric models.