Spanish retail sales tumbled 9.8% in April on an annual, calendar-adjusted basis, the national statistics office said Tuesday
That is the biggest drop on that basis since at least March of 2011
That compares to a fall of 3.8% in March
Spain is in the middle of a recession triggered by a collapse of the housing market. Borrowing costs have reached record levels and banks in particular are under pressure owing to their exposure to the housing downturn and troubled loans
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