Serbia's retail sales drop 10.6% y/y in November.

By bne IntelliNews January 4, 2013
Serbia's November retail sales dropped by 10.6% in real terms after contracting an annual 10.5% y/y in October, the statistics office said in a statement. On a monthly basis, November's retail sales dropped 7% in real terms after edging up 0.3% in October. In nominal terms, retail sales were 0.7% higher on the year in November and 7.5% lower on the month. In the first eleven months of 2012, retail sales shrank 5.2% y/y in real terms but rose by a nominal 2.7%. In 2011, retail sales shrank by a real 16.7% after falling 0.9% in 2010. Retail trade turnover has been shrinking in real terms since June 2012 and is expected to continue declining in the near term supported by weak household consumption and high inflation, which eased to 11.9% in November 2012 from 12.9% in October but is expected to remain in the two-digit area in the first half of 2013.

Serbia's retail sales drop 10.6% y/y in November.

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