Spain retail sales growth misses estimates

Retail sales in Spain have increased 1% year-on-year in November, after a revised down 3.4% surge in October, data by the National Statistics Institute showed.

The latest figure pointed to the slowest retail sales growth since June and it also fell short of market consensus of a 2.8% growth.

Sales of both food (1.5% YoY versus 2.2% YoY in October) and non-food products (1.2% YoY versus 5.9% YoY in October) grew at a slower pace.

In monthly terms, retail sales went down 0.6% in November, after being flat in October.

The EUR/USD currency pair settled with no change at 1.0420 on Friday. For the week, the major currency pair went down 0.08%, as it extended the losses from the prior three weeks.