Turkey keeps policy rate constant at 50%
7 hours ago
Montenegro's retail sales measured at constant prices increased by 3.8% y/y in May, speeding up from a 3.4% y/y rise in April, the statistics office reported on July 5.
Traditionally, the growth of retail sales in May is backed mainly by trade in fuel. Retail sales rose in 2016 and this upward trend has so far continued this year, indicating rising household consumption, which should help economic growth along with the expected investments in tourism and infrastructure.
Fuel sales increased by 19.9% y/y in May, after going up by 20.6% y/y in the previous month. Other retail trade in specialised stores speeded annual growth to 7.3% y/y in May from 4.1% y/y in April. Trade in non-specialised stores expanded by 2.5% y/y, after growing by 3.5% y/y in April.
Pharmaceutical sales turned to a 1.2% y/y hike in May from a 3.7% annual fall in April. Sales of food, drinks and tobacco fell 11.4% y/y, easing from a 17.4% y/y fall in April.
On a monthly comparison basis, retail sales increased 6% in May after rising 3.5% m/m in April.
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Turkey keeps policy rate constant at 50%
Central bank is, notably, no longer talking about building up its reserves in parallel with so-called monetary framework simplification policy.
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