Spain's retail trade increased 2.4 percent from a year earlier in June 2019, following an upwardly revised 2.6 percent growth in the previous month and beating market expectations of 1.7 percent. Food sales rose 0.9 percent, slower than 1.3 percent in May; while non-food trade growth eased to 3.1 percent from 4 percent, due to softer sales of personal equipment (1.9 percent vs 3.9 percent) and other goods (2.6 percent vs 3.5 percent). Household equipment sales, however, increased at a faster 2.6 percent (vs 2.4 percent in May). On a monthly basis, retail trade edged 0.1 percent higher in June, after a 0.8 percent jump in May. Retail Sales YoY in Spain averaged 0 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.