Retail trade turnover in Montenegro rose a real 6.2% y/y in May, speeding up from a 5.4% increase the month before, reflecting good pre-tourism season results, the statistics office said. In monthly terms, retail grew 6.1% in May up from 2.2% m/m a month earlier.
May’s annual growth was supported by a 16.1% y/y increase in total retail trade in non-specialized stores. The latter accounted for 68.5% of total retail trade in May. In January-May, retail trade turnover rose 6.1% y/y in real terms.
The pre-season’s positive performance in terms of tourist arrivals, overnight stays and passenger traffic will likely sustain in the coming months and support a seasonal increase in retail trade turnover in the near term.
Retail sales growth braked to 4.3% in 2012 from 14.8% the year before, mainly reflecting faltering household demand.
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