date:Dec 29, 2012
Spanish retail sales dropped 7.8 percent year-on-year in November, data showed on Friday, marking 29 months of straight falls in a recession-hit country where the consumer outlook is grim.
The calendar-adjusted figure compares to a slide of 9.7 percent in October. Analysts polled by Reuters had expected sales to drop 10 percent in November.
Retail sales have been particularly weak since Spain's government hiked value added tax to 21 percent from 18 percent on Sept. 1, with that month's 11 perc