Retail sales in Spain increased 2.4 percent year-on-year in May 2019, following an upwardly revised 1.3 percent rise in the previous month and beating market consensus of a 0.7 percent gain. It was the largest increase in retail trade since October last year, as sales of personal equipment rebounded (3.5 percent compared to -0.3 percent in April). Also, sales advanced further for food (1.6 percent compared to 1.4 percent) and other goods (3.5 percent compared to 0.7 percent). Meanwhile, sales of household equipment rose at a softer pace (2.6 percent compared to 3.0 percent). On a monthly basis, retail sales went up 0.7 percent, rebounding from a downwardly revised 0.3 percent fall in the prior month. Retail Sales YoY in Spain averaged -0.01 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 0.70 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 1.20 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.