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Growth in Spanish retail sales slows in August
September 29, 2016 / 7:21 AM / a year ago

Growth in Spanish retail sales slows in August

MADRID, Sept 29 (Reuters) - Spanish retail prices rose 3.4 percent in August on a seasonally-adjusted basis from a year earlier, according to the National Statistics Institute (INE) on Thursday, with growth slowing from a revised 5.1 percent a month earlier.

A consumer spending rebound, buoyed by weak inflation and a jobs turnaround, has so far extended Spain’s three-year recovery from a deep recession even amid a political deadlock that has left the country without a new government for nine months.

Economic growth is expected to move into a lower gear as of 2017, while the acting Economy Minister Luis de Guindos has warned there are already signs of a slowdown as the political bickering and uncertainty drags on.

Spanish national consumer prices rose for the first time in just over a year in September, separate data from INE showed on Thursday. (Reporting by Paul Day, Writing by Sarah White)

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