Bosnia’s retail sales edge down 0.8% y/y in Jan 2014

By bne IntelliNews March 10, 2014

Bosnia’s retail trade turnover inched down 0.8% y/y in real terms in January 2014, after increasing 4.3% y/y in December 2013, the statistics office said in a statement. On a monthly basis, retail sales declined for a third straight month in January, shrinking 1.2% but improving from a 1.8% m/m drop the month before.

Private consumption’s contribution to GDP growth is expected to remain moderate in 2014, reflecting fiscal consolidation measures and high unemployment, according to the latest IMF forecast.

The average number of registered unemployed people in Bosnia went up 0.5% y/y to 557,314 in January, recording the same growth rate as the month before, the country’s employment agency has said earlier.

Bosnia hopes to reduce its unemployment rate, which remains among Europe’s highest, by improving the business environment and approving new labour market legislation in early 2014.

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