Spain Retail Growth Slows to Over 1-Year Low

Retail trade in Spain rose by 2.2% year-on-year in February 2026, following a downwardly revised 3.8% advance in January and missing analysts' forecasts of 3.8%. This marked the slowest increase in retail activity since November 2024, as sales growth moderated for both food (1.7% vs 2.6% in January) and non-food products (3.3% vs 5.3%), of which household equipment (1.6% vs 2.1%) and healthcare products (1.5% vs 2.3%). On a seasonally adjusted monthly basis, retail trade edged down by 0.1%, following a revised flat reading in the previous month.

Retail trade in Spain rose by 4% year-on-year in January 2026, accelerating from a downwardly revised 2.8% advance in the prior month. Sales grew the most for non-food products (5.7%), including personal equipment (5.6%), household equipment (2.5%), and other goods (2.4%). Meanwhile, spending on food products increased by 2.5%. By distribution channel, online sales surged 9.5%, with large chains up 7.1% and single stores rising 1.8%. In contrast, sales declined at small chain stores (-1.1%) and department stores (-0.5%). On a seasonally adjusted monthly basis, retail trade edged up by 0.1%, following a revised 0.9% decrease in the previous month.

Retail sales in Spain rose by 2.9% year-on-year in December 2025, the smallest increase since January, last year, following a 6% surge in the prior month. Sales growth slowed markedly for non-food products (+3.6% vs +7.8% in November), of which household equipment (+3.6% vs +8%), personal equipment (+2.2% vs 13.2%) and healthcare (3.8% vs 6.4%). Spending on food rose by 2.9%, down from a 4.7% advance in November. Sales turnover showed notable increases in large chain stores (+7.7%) and e-commerce (+7.4%), offset by a 2.8% decline in department stores. On a seasonally adjusted monthly basis, retail trade fell by 0.8% in December, the most since January 2025, after a 1% increase in the month before. Lower sales were recorded for both non-food products (-0.9%) and food (-0.4%). For the full year of 2025, retail sales increased 4.3% over a year ago.