Czech retail sales post deeper than expected drop of 0.6% y/y in Oct 2013

By bne IntelliNews December 5, 2013

Czech retail sales declined in October 2013, erasing a gain in the previous month indicating that it may take a while until consumer confidence shows a sustainable recovery. Retail sales dipped 0.6% in unadjusted terms in October, following a revised 4.5% rise in September, data from the statistics office showed. Analysts polled by Reuters were expecting sales to drop by 0.1% y/y.

On a working day adjusted basis, retail sales in the tenth month of 2013 increased by 1% y/y and when adjusted for seasonal factors they went down by 0.8% m/m. October 2013 had one working day less than in the same month last year.

Auto sales increased for the seventh straight month in October albeit at a slower pace than in September but helped partly offset the decline in the other category – retail trade. Sales and repairs of motor vehicles grew by 2.2% y/y in October, after climbing 10.6% a month earlier. On the other hand, retail sales, including automotive fuel, fell by 1.8% y/y in October, contrasting with a 2.1% hike in September.

IntelliNews comment: The October decline in Czech retail sales shows that consumer confidence continues to be weak amid the fragile economic recovery. The economy emerged from an 18-month long slump in the second quarter thanks to a pick-up in domestic and foreign demand.  But it slipped into contraction in Q3 posting a 0.1% q/q drop suggesting that it may be heading back into recession. The still high unemployment and weak nominal wage growth are further dampening retail sales. On a positive note, Czech real wages grew for the first time in three quarters in Q3 albeit at the weak 0.1% annual pace.

Related Articles

Czech KMV acquires PepsiCo bottler in Bulgaria

The Czech Republic’s biggest producer of mineral and spring water Karlovarske mineralni vody a.s. (KMV) is buying Quadrant Beverages, the official bottler of PepsiCo in Bulgaria, the Czech company ... more

Penta plans to delist Czech-based betting firm Fortuna

Slovak financial group Penta announced on March 31 that it plans to tender for the remaining shares in Czech-based betting firm Fortuna, and then delist the company. Penta, which holds 68.25% in ... more

CEZ sells MOL stake

CEZ has “conditionally” sold its 7.5% stake in Hungarian oil and gas group MOL, the Czech state-controlled energy group announced on March 30. The report ... 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