By 2020, Retail Sales Are Down 6.8%, The Biggest Decline Since 2012.
2021-01-29 | by CusiGO
According to data released by the National Bureau of statistics on Friday, the retail industry has noticed the severe damage caused by the coronavirus crisis, with sales down 6.8% in 2020. This is the biggest drop in sales for such institutions since 2012.
Last year’s decline further broke the annual growth momentum of six consecutive years. In 2019, the year before the pandemic, sales grew by 2.4%. Ine points out that by eliminating seasonal and calendar effects, the turnover of the retail industry will further decline in 2020: 7.1%.
As the only positive data, statistics show that in December last year, retail sales slowed its annual decline (i.e. compared with the same period last year) to 0.6%. This was the lowest decline compared with the 5.9% decline in November.
However, despite falling to the lowest level, sales in December showed negative growth for 10 consecutive months. That is to say, since March 2020, Spain’s health (and economic) crisis caused by coronavirus.
In terms of employment, the sector’s employment rate fell by 2.4% in 2020. In this regard, December’s data were more negative, as the occupancy rate fell 3.7% year-on-year. However, this is three tenths less than in November, when the occupation rate was 4% lower than in the same period in 2019.