According to the National Statistics Institute (INE), retail trade in the Canary Islands experienced a 7.3% increase in sales in May compared to the same month in 2022. The cumulative increase for the year so far stands at 9.4%. In Spain as a whole, retail trade saw a 6.6% year-on-year increase, which is 1.5 points higher than the previous month. This marks six consecutive months of positive year-on-year rates in retail trade sales.
Food product sales in the sector rose by 4.3% year-on-year, while sales of other products increased by 14.1% compared to May 2022. Sales of other goods and personal equipment saw rises of 13.7% and 11.4%, respectively.
Large chains recorded the highest year-on-year increase in sales (+13.3%), followed by small chains (+7.8%), unilocalised companies (+5.6%), and large stores (+2.3%).
After adjusting for seasonal and calendar effects, retail trade turnover increased by 6% in May, which is three tenths of a percentage point higher than in April.
In monthly terms, retail trade experienced a 0.3% increase in sales in the seasonally adjusted series, which is six tenths of a percentage point lower than in April. However, this indicator has now shown three consecutive months of year-on-year increases.
In terms of employment, the sector saw a 1.6% year-on-year increase in May, which is four tenths of a percentage point lower than the previous month. Retail trade employment has now seen 25 consecutive months of year-on-year increases. Large chains experienced the highest year-on-year increase in employment (+3.8%), followed by large stores (+1.5%), small chains (+1%), and unilocalised companies (+0.6%).
On a monthly basis, employment in the sector grew by 0.5%, with notable rises in service stations (+1.1%), large chains (+0.9%), and large supermarkets (+0.7%).
Retail sales increased annually in all autonomous communities in May. The largest increases were observed in the Balearic Islands (+15.2%), Madrid (+10.1%), and Catalonia (+7.6%). The most moderate rises were in Castile and Leon (+0.3%), Murcia (+1.6%), and Navarre (+1.9%).
Regarding employment, 13 regions saw an annual increase in retail trade employment, with the Balearic Islands (+5.7%) and the Canary Islands (+3.7%) leading the way. Conversely, four communities reduced their retail trade workforce compared to May 2022: Asturias (-1.4%), Navarre (-0.2%), La Rioja, and Murcia, both with a decrease of 0.1%. Employment also fell in the autonomous city of Ceuta (-0.8%).