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Spanish retail sales rise less than expected in December

Source: Reuters - Thu 28th Jan 2016
Spanish retail sales rise less than expected in December

Retail sales in Spain increased by a slower-than-expected 2.2% in December from a year earlier, in the 17th straight month of gains as household spending helps fuel an economic turnaround.

Sales grew at their slowest pace in just over a year, and less than the 3.3% annual growth recorded in November in the run-up to what many shops had billed as their best Christmas season since a prolonged downturn began in 2008.

Analysts polled by Reuters had expected retail sales to grow 3.0% in December.

Spain's economy picked up steam last year after the country exited recession in mid-2013, and low energy bills coupled with weak inflation have boosted families' spending power.

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