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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 Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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