In November 2024, Spain witnessed a notable deceleration in retail sales growth, dropping to a modest 1.0% on a year-over-year basis, according to the latest data updated on 27 December 2024. This follows a more robust growth rate of 3.4% recorded in October 2024, as compared to the same month in the previous year.
The decrease highlights a slowdown in consumer spending as the holiday season approaches, potentially influenced by wider economic factors impacting shopper confidence. Analysts may need to delve into whether this trend is indicative of broader shifts within the market or a mere seasonal variation.
This sharper than anticipated decrease could prompt policymakers and businesses to reassess strategies to stimulate consumer activity and address potential challenges looming over the retail sector. The upcoming seasonal sales metrics will be closely monitored to measure the recovery trajectory as the new year unfolds.