Spanish retail sales accelerate 0.4% in January

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Banca March : In monthly terms, retail consumer spending grew by +0.4% month-on-month, driving an acceleration in retail sales growth to +5.5% year-on-year. Moreover, if we analyse the performance excluding service stations and corrected for seasonal and calendar effects, a +6.3% year-on-year change was recorded in January. By type of product: Food declined by 1.7%, while others rose by 15.0% (among this item, of note was the increase in personal equipment which grew by +22.2%).

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