Spain’s retail sales grew at a slower than expected pace in February, data from the statistical office INE revealed Tuesday.
Retail sales increased by adjusted 2.7 percent from a year ago in February. Economists had forecast sales to grow 4.1 percent after rising revised 4 percent a month ago. This was the slowest annual growth in three months.
On an unadjusted basis, retail sales increased 2.6 percent annually following January’s 3.9 percent rise.
Month-on-month, retail sales declined for the second consecutive month. Sales fell 0.7 percent in February after declining 0.5 percent in January.
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