Slovak retail sales annual fall deepens to 1.8% in February 2013

By bne IntelliNews April 5, 2013

Slovak retail sales fell for the ninth straight month in February 2013, moving down by 1.8% y/y, following a 1.3% annual decline in January, data from the country’s statistics office showed. The reading was affected mostly by lower retail sales of recreational and cultural goods (-18.3%), sales of “other goods” in specialised stores (-2.7%) and sales of food, beverages and tobacco in specialised stores (-1.6%), the statistics office said. Turnover increased only in sales of other household equipment in specialised stores (+0.8%), in retail trade not in stores, stalls or markets (+0.5%) and in fuel sales (+0.3%).

On a seasonally adjusted monthly basis, February’s retail sales grew by 1.3% following a 0.4% increase in January.

Slovak retail sales fell by 1% last year to EUR 17.93bn, despite the country’s solid economic recovery during the first half of the year, as persistent high unemployment rates and falling real wages dampened household consumption. The current data confirms that domestic consumption in Slovakia is still being depressed and we don’t expect it to recover in the near term, given the sluggish economy.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Evolution Equity Partners closes $125mn cybersecurity-focused fund

Evolution Equity Partners announced on 17 July the final closing of a new fund with total capital commitments of $125mn to make investments in cybersecurity and next generation enterprise software ... more

Slovak celebration of decent grain harvest marred by sheep’s milk protest

Slovakia’s grain harvest is this year likely to amount to 2.5mn tonnes, 20% down year on year, but comfortably enough to cover domestic needs and leave a million tonnes for export, SITA newswire ... more

Central European and Baltic economies shrugging off political uncertainty

Medium-term economic growth forecasts for Central Europe and the Baltics have been raised by The Vienna Institute for International Economic Studies (wiiw) in a report issued on June 29. The most ... more

Most Read

  1. Siemens considers quitting Russia
    7 days ago
  2. COMMENT: Gazprom’s exit from Turkey is a sign of the times
    8 days ago
  3. Turkey sends frigates, submarine as row mounts over Greek Cypriot oil, gas drilling
    7 days ago
  4. Nato still has a mixed reception in Emerging Europe
    7 days ago
  5. Wildfires hit Croatia and Montenegro’s Adriatic coast
    3 days ago
  1. CHINA RISING: When sleeping giants meet
    10 days ago
  2. Belarus’ retail king Euroopt goes on the road
    16 days ago
  3. Moldova, Bulgaria, Poland, Albania and Latvia to lose more than 40% of their populations by 2100
    29 days ago
  4. STOLYPIN: Russia’s cyber-challenge cuts both ways
    18 days ago
  5. Siemens considers quitting Russia
    7 days ago

Selected articles from our premium news/views wire IntelliNews Pro

Login to IntelliNews Pro
Get IntelliNews Pro

Reports

Dismiss