Croatia's working day adjusted retail sales rose by 5.7 y/y in real terms in November, accelerating from 3.1% y/y in October and a 4.3% annual rise in September, according to data from the statistics bureau.
Croatian retail sales have been increasing for 39 consecutive months, supported by the strengthening of the kuna, seasonal employment and tax cuts. The growth has also been supported by the good tourism season.
In seasonally and working day adjusted terms, retail sales were up by a real 2.2% m/m in November.
In nominal terms (seasonally and working-day adjusted indices), Croatian retail sales increased by 7.8% y/y and by 2.4% on a monthly basis.
In the first eleven months of the year, retail sales rose by 5.1% in real terms (working-day adjusted) against the same period of 2016.
Struggling Agrokor’s subsidiary Konzum, Plodine, Kaufland, Lidl and Spar Hrvatska are the main retailers in the Adriatic country.