The General Retail Trade Index (ICM) at constant prices closed December 2024 with a variation of 4.0% compared to the same month of the previous year, evidencing a notable boost in sales. This growth was 3.1 points higher than that recorded in November, consolidating the upward trend of the retail sector in the final stretch of the year.
Positive annual growth
Throughout 2024, retail sales increased by 1.7% in the series adjusted for seasonal and calendar effects, and by 2.1% in the original series. This performance reflects the recovery of the sector, driven by an increase in consumption and stability in demand.
Monthly sales evolution
In monthly terms, the ICM registered an increase of 1.5% between November and December, an improvement of 2.2 points compared to the previous month. All distribution modes experienced increases in December, with large stores standing out, with an increase of 3.7%. Likewise, the general index without service stations grew by 1.9%, with an increase of 1.0% in food and 2.2% in other products.
Canary Islands, the fastest growing community
Retail sales at constant prices increased in all autonomous communities during December, with the Canary Islands leading the growth with a 6.5% increase. For the year as a whole, the Canary Islands also recorded the highest increase in sales, with 5.2%, consolidating itself as the community with the best performance in the retail sector.
Increase in employment in the sector
Employment in retail trade also showed a positive evolution. In December 2024, employment in the sector grew by 1.7% compared to the same month of the previous year, although this rate was two tenths lower than that of November. On an annual average, employment in the retail sector experienced a growth of 1.9%, reflecting the stability of the labor market in this area.
Outlook for 2025
Positive retail trade data in 2024 suggests a consolidation of the sector's recovery, with optimistic expectations for 2025. Factors such as digitalization, adaptation to new consumer habits and employment stability will continue to play a key role in the evolution of retail trade in the immediate future.
Fountain: INE
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