Spanish retail sales plunged at a record pace in September as consumers cut spending following a sharp increase in the country’s value-added tax rate.

According to data released Monday by Spain’s National Statistics Institute, or INE, seasonally adjusted retail sales were down 10.9% on a year-to-year basis in September, compared with a 2% decline in August.

If you want to be informed more, please, click on next link to read the article of Christopher Bjork, journalist of Wall Street Journal

http://online.wsj.com/article/SB10001424052970204840504578086340020233784.html