Spain retail sales growth at eight-month high

Retail sales in Spain grew at the fastest pace in eight months in August, dpa reported on Thursday, quoting data from the statistical office INE. Retail sales climbed 2.3 percent on a yearly basis, following a 1.1 percent rise in July. This was the fastest growth since December, when sales were up 2.8 percent. On an unadjusted basis, annual growth in retail sales improved to 3.2 percent from 2.9 percent a month ago. Month-on-month, retail sales gained 0.4 percent after a 0.5 percent rise in the previous month. This was the third consecutive increase. Food sales decreased 0.2 percent on month, while non-food sales grew 0.5 percent. Further, data showed that employment in the retail sector posted an annual increase of 2 percent. Source: Emirates News Agency