Spanish retail sales recover unexpectedly in April

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

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

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

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

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