Figures from the National Statistics Institute (INE) showed that retail sales increased by 5.2% per annum in November, slowing compared to October (+5.3%, revised from 5%), and recording the weakest increase since February. Economists had expected sales growth of 5.5% per annum. The seasonally and calendar adjusted retail sales index excluding service stations registered an annual variation of 6.8%. If these sales are broken down by type of product, food increased by 1.5%, and non-food products by 12.9%.
On a monthly basis, retail sales increased by 0.9% after being unchanged in October (revised from -0.2%). Consensus estimates suggested an increase of 0.5%. The general retail sales index, excluding service stations, recorded a monthly rate of 1.4%. By products, food increased by 0.8% and non-food products by 2.0%. If the latter is broken down by type of product, personal equipment increased the most (2.0%). All distribution classes showed positive monthly rates, except for single retail stores which remained unchanged (0.0%). Large chain stores registered the greatest increase (2.4%).