Czech retail sales growth eases to 5.2% in Dec 2013

By bne IntelliNews February 5, 2014

Czech retail sales grew by 5.2% y/y in December 2013 easing from a nearly three-year high of 6.1% in November when shoppers rushed to buy goods before prices rose as a result of the central bank’s interventions to weaken the koruna.

The growth in December was supported by a robust expansion of auto sales and non-food goods, data from the statistics office showed.

On a working day adjusted basis, retail sales in the last month of 2013 increased by 3.6% y/y and when adjusted for seasonal factors they went up 1.2% m/m. December 2013 had one working day more than in the same month of 2012.

Auto sales increased for the ninth straight month in December posting an annual growth of 16.8%, the strongest since Jan 2011. Retail sales, including automotive fuel, also increased but at the much weaker pace of 1.8%, easing from 3.3% in November.

In full-2013 retail sales in the country increased by 1% improving from a 1.1% decline in 2012.

IntelliNews comment: Despite easing from November, the Czech retail sales growth remained strong in December indicating a recovering consumer confidence as the economy emerges from a protracted recession. Refined data on Jan 9 showed the Czech GDP rising for the second straight quarter in Q3 ending an 18-month long slump. Real wages that grew for the first time in three quarters in Q3 also support a growth in retail sales. The central bank's interventions on the currency market had a positive effect on retail sales in November but in the months to come it may hurt consumption as higher import prices will lead to a rise in shop prices.

Related Articles

Hungarian PM's "proxy" moves into the nuclear industry as Paks tenders approach

Firms controlled by Hungarian oligarch Lorinc Meszaros have purchased a 51% stake in the Hungarian subsidiary of Czech nuclear ... more

Czech PM accepts new nominee for finance minister

Reducing the political tension in the country a little, Czech Prime Minister Bohuslav Sobotka accepted on May 17 the nomination of a new finance minister from coalition partner Ano. Meanwhile, ... more

RBI doubles net profit y/y in Q1 as Russian business recovers

Raiffeisen Bank International (RBI), the second largest bank operating across Central and Eastern Europe by assets, reported that net profit almost doubled year-on-year to €220mn in the first ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss