Spain retail sales fall 3.9% y/y in July

Spanish retail sales fell by 3.9% in July from a year earlier on a calendar-adjusted basis, after falling by 4.7% in June, the National Statistics Institute (INE) said on Friday.

Tourism-dependent regions such as the Balearic and Canary Islands were hit the hardest, registering year-on-year declines of 14.8% and 13.2%, respectively, the INE said.

Still, the end of Spain’s strict lockdown helped drive retail sales up by 1.1% from June’s levels, the institute said.