Estonian retail sales growth picks up speed again in May

Estonian retail sales growth picks up speed again in May
By bne IntelliNews June 30, 2016

Estonian retail sales grew 8% y/y at constant prices in May, according to data released by Statistics Estonia on June 30. It was the second month in a row in which turnover accelerated, pitching growth close to the 12-month high of 10% recorded in December.
 
The May reading suggests continued confidence amongst Estonian consumers on the back of the ongoing tightening of the labour market. On a monthly basis retail sales also rose 8%. Nominal sales came in at €557.9mn.

Sales of manufactured goods increased 13% y/y. Within that segment, sales fared best in textiles, clothing and footwear, increasing 19%, while sales of household goods and appliances, hardware and building materials showed expansion of 15%. 

Turnover at grocery stores was 4% higher on the year. Sales of automotive fuel increased growth in April, posting an expansion of 6%. 

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