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Spanish Retail Sales Growth Slows in September

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Spanish retail sales increased 3.2 percent in September on a seasonally-adjusted basis from a year earlier, with growth slowing slightly from a revised 3.3 percent rise in August, the National Statistics Institute (INE) said on Monday.

Low inflation and falling unemployment have fuelled a consumer spending boom in Spain, helping to keep growth on track even during a 10-month political gridlock that ended at the weekend.

Spanish conservative leader Mariano Rajoy is due to be sworn in for his second term as prime minister later on Monday.

Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.
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