10/29/2013

Spain's retail sales rose 2.2% in September over the same month last year, according to the National Statistics Institute, marking the first increase in retail sales since 2010. While an increase is good news after a two-year recession, much of it is due to a tax increase that depressed sales in the year-ago period, analysts said. "It's a good figure, but we need to wait a couple of months before drawing any conclusions," said Citi economist Jose Luis Martinez.

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