Spanish Retail Sales Drop In October

Sponsored Links

Retail sales in Spain dropped 3.9% year-on-year in October, the Madrid based National Statistics Institute reported on Thursday. Economists had expected a 2.4% decrease. Adjusting for calendar effects, total retail sales slumped 2.7% compared with October 2008.

Excluding sales at service stations, the retail sales index dropped 3% annually. Sales at supermarkets were down 3.1%. Further, the statistical office said that employment in the retail sector decreased by 3.9% in October.

Region wise, sales were down across the Iberian nation excepting Castilla y Leon. The largest declines were witnessed in Castilla La Mancha and Valencia.

Retail sales in Spain dropped 3.9% year-on-year in October, the Madrid based National Statistics Institute reported on Thursday. Economists had expected a 2.4% decrease. Adjusting for calendar effects, total retail sales slumped 2.7% compared with October 2008. (Market News Provided by RTTNews)