Montenegro's retail sales growth strengthens to 14.5% y/y in Dec 2013

By bne IntelliNews January 30, 2014

Montenegro's retail sales grew a real 14.5% y/y in December 2013, quickening from a 12.5% y/y rise the month before, the statistics office said. The reading likely reflects strong seasonal consumption prior and during the end-of-year festivities.

In monthly terms, retail sales swung to a 10.6% increase in December from an 11.0% m/m drop in November.

Overall, the average monthly growth of retail sales in 2013 was 9.4%, up from 5.3% a year ago, partly due to stronger tourism activity. Nonetheless, it remains below the 2011 monthly average of nearly 21.0%.

Weak private consumption, as the unemployment rate hit nearly 15% in early December, will remain a drag on the recovery going forward.

Related Articles

EIB surpasses investment milestone in the Western Balkans by investing €1.2bn in 2023

EIB Global, the financial arm of the European Investment Bank (EIB) for activities beyond the EU, set a new record by investing €1.2bn in the Western Balkans in 2023, the EIB said on February 9. ... ... more

bne IntelliNews Southeast Europe Outlook 2024

This Southeast Europe Outlook 2024 has been prepared by bne IntelliNews as part of a series of annual reviews providing updates on the geopolitical, macroeconomic and commercial state of ... more

Montenegro’s central bank says Serbian company wants to buy Prva Banka

Montenegro’s central bank said on November 10 it has received a request for approval of the purchase of a 50% stake in Prva Banka Montenegro from a Serbian company, not a Bosnian businessman as ... more

Dismiss