Spain's retail trade increased 1.4 percent from a year earlier in November 2018, following an upwardly revised 2.1 percent growth in the previous month. Non-food sales rose at a softer pace (1 percent vs 4.6 percent in October) due to a fall in personal equipment trade (-0.3 percent vs 9.4 percent) and a slowdown in sales of household equipment (3.7 percent vs 6.5 percent) and other goods (0.5 percent vs 1.7 percent). Food trade growth was little changed at 1 percent in November, compared to 1.1 percent in October. On a monthly basis, retail sales rose 0.4 percent, after a 1.1 percent surge in October. Retail Sales YoY in Spain averaged -0.05 percent from 2001 until 2018, reaching an all time high of 6.90 percent in December of 2003 and a record low of -11.30 percent in September of 2012.
Retail Sales YoY in Spain is expected to be 2.10 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 2.30 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.