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.

Related Articles

Amendment to coalition deal ends Slovakia’s government crisis

Slovakia’s government crisis was definitively brought to an end on September 11 when the governing coalition’s three party leaders inked an amendment to their deal to rule together. The crisis ... more

Slovak court to hear appeal against verdict that cleared Babis of Communist secret police link

Slovakia's Constitutional Court will next week hear an appeal against a January verdict that cleared the current favourite to become the next Czech PM, Slovak-born entrepreneur-turned-politician ... more

Slovakia anxious over impending Christmas butter shortage, Czechs already experiencing shortages

Slovakia is worried it could be caught up in a looming Christmas butter shortage crisis, The Slovak Spectator reported on September 5. A 125-gramme pack of butter in Slovakia cost €1.01 on ... more

Dismiss