Skip to content Portugal Retail Sales – December-29-2023
Reuters – In November 2023, Portugal retail Sales sector witnessed a significant upturn. Sales jumped by 2.1% compared to the same month last year, marking the highest increase in four months. This growth followed a modest 0.5% rise in the preceding month, showing a notable acceleration in consumer spending.
Diverse Sector Growth Drives Sales
The increase was broad-based, with both food, drinks, and tobacco, and non-food sectors contributing. Sales in food, drinks, and tobacco escalated to 2.7%, up from 0.9%, while the non-food sector also saw a rise, moving from a 0.2% increase to 1.7%. This balanced growth across sectors signifies a healthy expansion in consumer activity.
Month-over-Month Sales Leap
Comparing month-over-month data, there was a remarkable 3.1% climb in retail sales, a rebound from the 0.3% decline observed in October. This shift not only highlights a positive consumer sentiment but also reflects an overall strengthening of Portugal’s retail industry.
This performance in Portugal’s retail sector, particularly in November 2023, demonstrates a resilient and growing economy. The significant yearly and monthly growth in various retail segments indicates a robust consumer market and a positive outlook for the country’s economic progress.
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