Spanish retail sales logged in a weaker growth during the month of July, remaining largely unaffected by the ongoing political uncertainty despite facing eight months without a stable government after two consecutive inconclusive elections.
After adjustment, retail sales grew 4.9 year-on-year in July, slower than the 5.7 percent expansion registered in June, data released by the statistical office INE showed Friday. Likewise, retail sales, on an unadjusted basis, advanced 3.1 percent versus 5.9 percent increase in the prior month.
On a monthly basis, retail sales growth eased to 0.5 percent from 1.7 percent in June. Nonetheless, this was the second consecutive rise in retail sales. Food sales climbed 0.7 percent and non-food sales gained 0.2 percent from the previous month.
Meanwhile, the economy grew strongly in the second quarter, official data showed on Thursday, as consumer spending stayed robust and demand for exports rose.