Czech retail sales surprisingly fall by 1.8% in Nov 2012.

By bne IntelliNews January 14, 2013
Czech retail sales declined in November 2012 reversing an increase in the previous month as both the automotive segment and retail trade contracted deepening concerns about the weakening domestic consumption, data from the statistics office showed. Retail sales dropped by 1.8% y/y in unadjusted terms in November, following a 2.2% rise in October 2012. Analysts were expecting sales to remain flat in November, according to a Reuters poll. On a working day adjusted basis, retail sales in the 11th month of 2012 were 3.5% lower on the year and when adjusted for seasonal factors they decreased by 0.6% on the month, following a 1.5% m/m fall in October. Sales and repairs of motor vehicles decreased by 3% y/y in non-adjusted terms and by 5.8% in working days-adjusted. Seasonally-adjusted sales edged down by 0.8% m/m in November. Non-adjusted retail sales, including automotive fuel, were 1.3% y/y lower in November and when adjusted for working days they fell by 2.4% y/y. Seasonally-adjusted sales edged down by 0.6% m/m. IntelliNews comment : After the October increase, which was exclusively due to positive calendar effects, Czech retail sales contracted again in November confirming that the weak domestic demand continue to weigh on economic growth and signalling that the country possibly entered its fourth consecutive quarter of recession. Czechs are holding back spending due to the recessionary economy and rising unemployment. The falling retail sales also reflect the weakness in the real wage development. Real wages in the country dropped by 1.4% in Q3, their third consecutive quarter of decrease.

Czech retail sales surprisingly fall by 1.8% in Nov 2012.

Related Articles

Czech CSSD proposes 2014 general and European elections to be held together.

Social Democrats (CDDS), the major Czech opposition party, proposed next year's general and European elections to be held on the same day, CTK news agency reported. CSSD leader Bohuslav Sobotka ... more

Tesco Czech faces fine for selling products containing undeclared horsemeat

The Czech unit of UK retailer Tesco faces a fine of up to CZK 3mn (EUR 116,000) for selling beef lasagne containing undeclared horsemeat, Radio Prague reported. The state-run Agricultural and Food ... more

Czech Senate votes to limit immunity of lawmakers, judges.

The upper house of the Czech parliament, the Senate, voted on March 20 a constitutional amendment to limit the immunity of lawmakers and constitutional judges, Radio Prague reported. Out of the ... 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