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Spain Retail Sales Recover Unexpectedly In April

Spain retail sales recovered unexpectedly in April, data from the statistical office INE revealed on Friday.

Retail sales expanded by adjusted 1.5 percent year-on-year, reversing March's 4.1 percent decrease in March. Sales were forecast to drop 1.9 percent.

On an unadjusted basis, retail sales increased 3.3 percent annually after falling 5.5 percent in the previous month.

Month-on-month, retail sales grew 5.3 percent in April, in contrast to the 4.3 percent decrease in March.

Food sales were down 4.2 percent on month, while non-food sales turnover grew 10.1 percent.

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