Czech retail sales rise more than expected in July on strong auto sales.

By bne IntelliNews September 4, 2013

Czech retail sales rose more than expected in July 2013 helped by strong auto sales and favourable calendar effects, data from the statistics office showed. Retail sales increased by 4% in July, following a 2.5% decline in the previous month. Analysts polled by Reuters were expecting sales to grow by 2.7% y/y.

On a working day adjusted basis, retail sales in the seventh month of 2013 edged up by 0.7% y/y, the same as seasonally-adjusted sales. The statistics office said July had two more working days than in the same month the previous year.

Sales and repairs of motor vehicles rose by 10.7% y/y in July, the strongest pace since February 2011 and well above June's rise of 0.1%. Seasonally-adjusted auto sales went up by 0.3% m/m and workday-adjusted sales advanced by 4.4% y/y.

Retail sales, including automotive fuel, grew by 1.4% y/y in non-adjusted terms in July, after falling by 3.6% in June. Seasonally-adjusted sales were 0.7% higher on the month in July, while when adjusted for working days they dropped 0.7% y/y.

IntelliNews comment: The fact that Czech retail sales resumed growth in July is an encouraging sign that consumer confidence is starting to recover helping the economy exit its record-long recession. The Czech economy has just emerged from an 18-month slump with the GDP rising by 0.6% q/q in Q2. According to Q2 GDP data released by the statistics office on Sept 3, household demand, which used to be the main drag on growth in 2012, increased for the second straight quarter - up by 0.5% y/y. Yet, the growth in retail sales will be restrained by falling real wages. In Q1 real wages in the country fell by 2.2% y/y, following a 0.7% rise in the fourth quarter of 2012.

Related Articles

Czech CPI buys huge Central European retail portfolio

Czech real estate investor CPI Group has bought a large portfolio of Central European retail assets, local media reported on January 17. The investor, which has grown its holdings rapidly since ... more

CEZ ignores Czech finance minister and re-elects CEO

The supervisory board at Czech power group CEZ ignored pressure from the finance ministry to dump the current management, local media report. Finance Minister Andrej Babis has been accumulating ... more

Japan’s Asahi buys a huge round in Central Europe

Asahi has beaten a host of regional heavyweights in the race to buy SABMiller’s Central and Eastern European beer brands, the Japanese brewer announced on December 13. The Asian giant said it ... 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