Retail sales down by 5% in 2010 GfK Romania.

By bne IntelliNews March 4, 2011
Retail sales decreased by a nominal 5% y/y, GfK Romania announced. The CPI inflation stood at 6.1% y/y last year, so the real decline was 10.5% according to our calculations. The statistics office reported a 5.3% decline of retail sales last year. GfK Romania said that the decline of last years retail sales was only 4% in H1, but steepened to 6% in H2 after the fiscal corrective measures, enforced by the government. The households reduced their expenditures mostly on personal care products, which dropped by almost 11% y/y. The beverage sales also declined significantly by 6% y/y in the full year and by 9% y/y in H2 after a moderate 3% y/y decline in H1. On the opposite, the staple foods segment and home care products were least affected, with the expenditures narrowing by 3% and 4%, respectively. In 2010, modern trade attracted 45% of household expenditure on consumer goods, increasing by 2pps from 2009.
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