Spain Nov Retail Sales Growth Eases More Than Expected

Spanish retail sales growth slowed at a faster-than-expected pace in November, the statistical office INE reported Tuesday.

Retail sales rose a seasonally and calendar-adjusted 3.3 percent year-over-year in November, much slower than the 6.0 percent gain in the previous month, which was revised from a 5.8 percent hike reported earlier. Economists had expected the growth to ease to 4.6 percent.

Sales of non-food products grew 4.7 percent annually in November, while that for non-food products edged down by 0.2 percent.

On an unadjusted basis, the retail sales growth moderated to 4.2 percent in November from 5.0 percent in October.

Month-on-month, retail sales dropped 0.5 percent in November, reversing a 0.5 percent increase in the preceding month. It was the first decrease in five months.

The material has been provided by InstaForex Company –