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Spain Retail Sales Growth Improves For Second Month, Tops Expectations

Spain's retail sales grew for a second straight month annually in February and the pace exceeded economists' expectations, preliminary data from the statistical office INE showed on Friday.

Retail sales rose a seasonally and calendar-adjusted 1.2 percent year-on-year following a 0.9 percent increase in January. Economists had forecast a 1 percent gain.

Food sales grew 0.9 percent and sales of non-food products gained 1.9 percent. Within the latter group, sales of household equipment registered the biggest increase of 2.6 percent.

Without adjustments, retail sales rose 1.7 percent year-on-year in February, same as in March.

On a month-on-month basis, retail sales grew a seasonally and calendar adjusted 0.3 percent in February, same as in January. Sales had decreased 0.5 percent in December.

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