Sales volume of larger firms keeps rising as consumer spending stays strong in Spain

The Spanish economy continues to do well. The total sales volume of larger companies in the country - adjusted for seasonal variations - rose by 2.5% in June, the best figure since the start of 2023 (except for March, when it grew by 7.9% due to the transport workers' stoppage a year ago).

According to government data, in May, sales growth was only 1.1%, so the June figure confirms that households continued to spend despite inflation and the rise in interest rates.

Spending is being boosted by the good performance of the labour market, with a record number of Social Security affiliates of around 21 million people. Moreover, salaries have continued to rise for staff in these large companies, with average pay rises of about 4% being awarded so far this year.