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Retail sales grow 3.2% in 2021, its biggest increase since 2016

Retail trade recorded in 2021 an average increase in sales of 3.2%, its biggest rise since 2016, when rose 3.9%, as reported on Monday by the National Institute of Statistics (INE).

After 2020, a black year for the sector due to the Covid crisis, with a fall of sales of 6.8%, retail trade returned in 2021 to positive annual rates, thus noting the progressive recovery of economic activity.

Eliminating seasonal and calendar effects, retail turnover increased by 3.8% in 2021.

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In the last month of 2021, retail trade sales registered a year-on-year decrease of 3.3%, compared to the advance of 6.2% in November. December’s is the largest year-on-year drop in this indicator since last February.

In terms of employment, the sector registered an average increase in employment of 0.6% in 2021, in contrast to the 2.4% decline it experienced in the year of Covid. The rebound in 2021 is four tenths less than that registered in 2019 and 2018, when employment in retail trade grew at average annual rates of 1%.