Spain Retail Sales Decline Slows In July

Spain retail sales declined at a softer pace in July, data from the statistical office INE showed on Friday.

Retail sales declined by an adjusted 3.9 percent year-on-year in July, following an 4.7 percent fall in June. Sales fell for the fifth straight month.

On an adjusted basis, retail sales decreased 3.7 percent in July, following a 3.3 percent fall in the preceding month.

On a month-on-month basis, retail sales rose 1.1 percent in July, following a 17.7 percent increase in the previous month. Sales rose for the third consecutive month.

Sales of food products increased 1.8 percent, while that of non-food products fell 0.8 percent in July.

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