Spain Manufacturers Warn of Another Slowdown; Consumption Recovery Ends, Retail Sales Contract, Price Deflation Sets In

Jon Blogosphere, Economy

The alleged recovery in Spain is already over. Retail sales are down month-over-month and year-over-year in July. August and September are both projected to be weak.
Vial translation from El Economista, Manufacturers and Retailers Warn of Another Consumption Slowdown.
After a slight recovery in the first months of the year, stagnation set in since June, according to almost all employers and associations of producers and distributors. The retail index INE already pointed to stagnation in June and a drop of 0.5% in July from a year earlier.
Although the decline in July from the previous month is a somewhat lower 0.2%, the situation appears to be worsening. August data will be released this week and forecast for both August and September are not positive.

This post was published at Global Economic Analysis on September 29, 2014.