Spanish retail sales down annual 9.8%

Note: This section contains information in English only.
Source: Marketwatch
Spain calendar-adjusted retail sales plunged 9.8 percent in April on annual basis. This is the sharpest decline since March 2011. Spain is in recession since the housing bubble burst. Borrowing rates have surged record high, and banks are especially under pressure, due to their exposure to housing markets and bad loans.

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