Czech retail sales rise 3.7% y/y in Sept, in line with expectations.

By bne IntelliNews November 5, 2013

Czech retail sales increased in September 2013 erasing a decline in the previous month helped by a sharp rise in Internet sales, strong auto sales and two more working days than in the same period of 2012. Retail sales grew 3.7% in unadjusted terms in September, following a 0.3% drop in August, data from the statistics office showed. The reading was in line with market expectations according to a Reuters poll.

On a working day adjusted basis, retail sales in the ninth month of 2013 increased by 0.5% y/y but when adjusted for seasonal factors they went down by 0.7% m/m.

Auto sales increased for the sixth straight month in September and at a much faster rate than in August. Sales and repairs of motor vehicles grew by 9.5% y/y in September, after climbing 4% a month earlier. Retail sales, including automotive fuel, advanced by 1.5% y/y in September, following a 1.8% y/y drop in August.

IntelliNews comment: The September rise in Czech retail sales gives hopes for a recovering consumer confidence as the economy emerged from a record-long slump. Yet, the growth will be restrained by falling real wages. In Q2 real wages in the country fell by 0.3% y/y, following a 2.2% y/y drop in the first quarter. Rising unemployment is also dampening the retail sales growth.  

Related Articles

Evolution Equity Partners closes $125mn cybersecurity-focused fund

Evolution Equity Partners announced on 17 July the final closing of a new fund with total capital commitments of $125mn to make investments in cybersecurity and next generation enterprise software ... more

Czech-based CME divests Croatian Nova TV and Slovenian Pop TV for €230mn

Czech Republic-based broadcaster Central European Media Enterprises (CME) on July 10 announced the divestiture of its leading Croatian and Slovenian TV stations to United Group's Slovenia Broadband ... more

Central European and Baltic economies shrugging off political uncertainty

Medium-term economic growth forecasts for Central Europe and the Baltics have been raised by The Vienna Institute for International Economic Studies (wiiw) in a report issued on June 29. The most ... more

Dismiss