Spain's retail sales growth experienced a further slowdown in November, reaching its lowest point in five months, according to figures released by the INE, the national statistical office, on Friday.
Retail sales recorded a modest 1.0 percent year-on-year increase, a significant decrease from the 3.4 percent growth observed in October. This represented the most sluggish expansion since June, when sales rose by only 0.6 percent.
The growth in annual sales of non-food products decelerated sharply to 1.2 percent, down from 5.9 percent in October. Similarly, the growth rate for food product sales slowed to 1.5 percent. In contrast, sales at service stations remained unchanged.
On an unadjusted basis, the annual growth rate of retail sales decreased to 2.0 percent, compared to 5.4 percent in the previous month.
Month-on-month, retail sales contracted by 0.6 percent, following a stagnant performance in the prior month. This marked the first decline observed in six months.
Additionally, the data revealed that employment within the retail sector saw an annual increase of 1.9 percent.
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