The hits keep on coming for the spiraling disaster that is Spain, the world’s 12th largest economy…
Spanish retail sales fell 9.8% year-over-year in April, which according to Markit is the largest collapse in the history of that series, which has been in existence since 2003.
It’s possible that there’s been a larger year-over-year decline at some point before the data was collected.
Reuters’ Scotty Barber has the stomach-dropping chart.
Photo: Scotty Barber, Reuters