Spanish Retail Sales Growth Improves In August

Sep 27, 2007 - Spanish retail sales grew 4.3% year-on-year in constant prices in August, the statistical office INE said Thursday. Retail sales growth came in much higher than the 3.4% rise logged in July.

Sales of foodstuff rose 2.3%, while non-food product sales climbed 5.6%. Among non-food products, sales of personal goods increased 6.6% and sales of furniture and household equipment gained 1%. Other goods showed an improvement of 5.4% in retail sales.

The statistical office noted that August 2007 was not impacted by calendar effect as the month had the same number of working days as August 2006. Hence, the adjusted General Retail Trade Index at constant prices revealed a 4.3% increase.

In department stores, retail sales rose 2.4% on an annual basis in constant terms in August. Sales of foodstuff declined 1.1%, while sales of non-food products rose 4.6%.

The retail sector had 1.8% employment growth in August. Employment in department stores increased 2.1%.

Spanish Industrial Prices Hold Steady In August

Sep 25, 2007 - The Spanish General Industrial Price Index grew 2.3% on an annual basis in August, the statistics office said, Tuesday. Industrial prices advanced 2.3% in the previous month after expanding 2.6% in June. On a monthly basis, industrial prices gained 0.2% in August after rising 0.3% in the preceding month.

Prices of consumer goods gained 2.3% year-on-year in August, accelerating from the 1.9% growth in the previous month. Prices of capital goods increased 3.1% annually, the same as in the previous month. Prices of intermediate goods expanded 5.4%, slowing form the 5.6% climb in the earlier month. Energy prices slipped 2.8% in August, after sliding 2.5% in July.

Producer prices in the mining and quarrying sector climbed 5% on an annual basis in August, while producer prices in the manufacturing sector advanced 2.3% and producer prices in the electricity and gas sector grew 3%.

Industrial prices of manufactured food products and beverages gained 3.7% annually in August, while producer prices of tobacco products expanded 4.3%. Industrial prices of textiles grew 3.3%, while prices of pulp, paper and paper products jumped 6.2%.

In comparison, industrial prices of coke and refined petroleum products slumped 9.9% year-on-year in August, while producer prices in the office machinery and computers sector eased 2%.

Compared to July, producer prices of consumer goods grew 0.3% in August. Industrial prices of non-durable consumer goods gained 0.5%, while producer prices of durable consumer goods remained unchanged. Industrial prices of capital goods edged up 0.1%, while industrial prices of intermediate goods advanced 0.2% and industrial prices in the energy sector eased 0.4%.

Spanish Consumer Price Inflation Holds Steady In August, Yet Below Consensus

Sep 13, 2007 - Spanish consumer price inflation grew at an annual rate of 2.2% in August, the National Statistics Institute said, Thursday. Consumer prices grew at the same rate of 2.2% in the previous month also. The price rise in August was a little less than the 2.3% annual growth predicted by economists. Over the month, consumer prices slipped 0.1%, recovering from a slump of 0.7% in the previous month. Economists had expected a 0.2% growth in monthly consumer prices in August.

In August, prices of spirits and tobacco climbed 6.5% annually, slightly more than the 6.1% increase in prices in the previous month. Prices of food and non-alcoholic beverages advanced 2.8%, while transport prices declined 0.1%. Prices of milk grew 4.9%, while prices of tobacco jumped 8.1%. In contrast, prices of oils slumped 16.6%, while prices of fuels and lubricants eased 4.2%.

On a monthly basis, prices in hotels, cafes and restaurants grew 0.8% in August, while prices in the leisure and culture sector rose 1.3%. Prices of food and non-alcoholic beverages edged up 0.3%, pushed by higher prices for milk, fish and bread. In comparison, transport prices slipped 0.5%, pulled down by the decline in prices of fuels and lubricants. Prices of clothing and footwear eased 0.7%.

The underlying rate of inflation, that is, the general consumer price index stripped of food and energy products prices rose 2.5% annually in August.

The Harmonized Index of Consumer Prices, HICP, which is used to compare Europe wide prices, advanced 2.2% on an annual basis, while the monthly growth rate came in at 0.2%.

Spain 7 months to end-July budget surplus at 8.015 bln eur vs 9.734 bln

Aug 31, 2007 - The Spanish budget surplus narrowed to 8.015 bln eur in the seven months to end-July, or 0.77 pct of GDP, from 9.734 bln a year earlier, the Economy Ministry said in a statement.

Spain Q2 GDP up 0.9 pct from Q1; up 4.0 pct yr-on-yr

Aug 29, 2007 - Spain's GDP grew 0.9 pct in the second quarter from the first and was up 4.0 pct from a year earlier, the National Statistics Institute (INE) said.

The quarterly figure is slightly above the preliminary figure of 0.8 pct, while the annual figure is in line. Both figures are below the first quarter, when GDP expanded at a quarterly rate of 1.0 pct and an annual rate of 4.1 pct.

In a statement, INE said domestic demand contributed 4.9 percentage points to GDP growth in the second quarter, below the 5.0 pct registered in the first, while the negative contribution from the external sector remained unchanged at 0.9 pct.

Spain govt revises FY GDP growth forecast to 3.8 pct vs previous 3.4 pct

Jul 27, 2007 - The Spanish government said it has revised its forecast for Spain's full year GDP growth to 3.8 pct from a previous 3.4 pct.

In a report on the economy, the government said it maintaining its forecast for 2008 unchanged at 3.3 pct.

The upward revision for this year is due to the Spanish economy's 'dynamism' since 2006 and a more moderate slowdown in domestic consumption and in the construction sector than previously expected.

Spain's unemployment rate meanwhile is expected to remain below 8 pct in 2008, the government said.

The statistics institute INE will report second quarter GDP August 29.