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.
Montenegro’s government has decided to speed up the acquisition of Italian A2A's stake in the power firm EPCG, paying €68.9mn for a ... more
The European Commission slammed Montenegro for its lack of progress in fight against organised crime in its progress report released on April 17, and said that the country ... more
Boyko Borissov, prime minister of the current EU Council chair Bulgaria, called on April 10 on the leaders of the Western Balkan countries to preserve peace and ... more