Spanish retail sales ease in August; economic growth likely to witness pressure in 2017

Retail sales in Spain eased during the month of August, compared to a year earlier period; also, the country’s economic growth is likely to witness pressure during 2017 in midst of a political deadlock that has left the country without a stable government for nine months.

Spanish retail prices rose 3.4 percent in August on a seasonally-adjusted basis from a year earlier, data released by the National Statistics Institute (INE) showed Thursday, with growth slowing from a revised 5.1 percent a month earlier.

Further, retail sales decreased 0.9 percent from July, when they rose 0.6 percent. The latest drop was the first since May, when sales fell at the same pace. A decline larger than 0.9 percent was previously seen in June last year, when sales fell 1.5 percent.

On an unadjusted basis, retail sales rose 4.9 percent annually in August after a 3.4 percent gain in July, the data showed. Meanwhile, Spain’s national consumer prices rose for the first time in just over a year in September, separate data from INE showed Thursday.