Spain’s Retail Trade Activity Registers Slight Expansion in November 2024
Madrid, December 27, 2024 – According to the latest Retail Trade Indices (RTI) released by the Spanish National Institute of Statistics (INE), the retail sector in Spain experienced a modest increase in activity during the month of November 2024.
The overall RTI, which measures the volume of sales in the retail sector, rose by 0.3% year-on-year in November, indicating a slight expansion in retail activity compared to the same period in 2023. This follows a 0.2% increase in October 2024.
Breakdown by Sub-Indices:
The RTI is further broken down into several sub-indices, each representing different segments of the retail sector:
- Non-Food Products: Sales of non-food products increased by 0.5% year-on-year in November 2024. This category includes a wide range of items, such as textiles, household appliances, electronics, and furniture.
- Food, Beverages, and Tobacco: Sales in the food, beverages, and tobacco sector edged up by 0.2% year-on-year. This category includes grocery stores, supermarkets, and convenience stores.
- Other Retail: Sales in the “other retail” category, which includes fuel stations, pharmaceutical products, and other miscellaneous items, declined by 0.3% year-on-year.
Comparison with Previous Months:
The 0.3% increase in the overall RTI for November 2024 is slightly higher than the 0.2% growth recorded in October 2024. However, it is still below the average growth rate of 0.5% per month seen in 2023.
Outlook:
The modest expansion in retail trade activity in November 2024 suggests that the sector is gradually recovering from the challenges posed by the pandemic and the global economic downturn. However, the outlook for the coming months remains uncertain, as inflationary pressures and geopolitical tensions continue to impact consumer spending.
Retailers are likely to remain cautious in their business decisions and may adopt strategies such as cost-cutting measures and targeted promotions to adapt to the evolving market conditions.
Retail Trade Indices (RTI). November 2024
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