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Spain December retail sales fall at fastest rate since August

Source: Reuters - Wed 29th Jan 2014
Spain December retail sales fall at fastest rate since August

Spain's retail sales fell 1.0% year-on-year on a calendar-adjusted basis in December, National Statistics Institute (INE) reported on Wednesday, the fastest decline in four months and after a revised rise of 1.8% in November.

Retail sales had been falling every month for three years until September, when they rose due to residual effects from the impact of a rise in value-added tax (IVA) in September 2012 and tentative signs of a recovering economy.

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