Slovak retail sales rebound in August

Slovak retail sales rebound in August
By bne IntelliNews October 5, 2016

Slovak retail sales rose 1.9% y/y in August, bouncing back from July’s fall of 0.6%, which was the first annual decline in 15 months, data from the statistics office showed on October 5.

The return to expansion is good news for an economy that is heavily reliant on consumption for growth in the medium term. Retail sales growth has lacked vigour throughout 2016, despite labour market improvements and low inflation. The latest statistics show turnover increased by just 1.8% in the first eight months of the year.

Growth in August was driven in the first place by a 10% increase in sales of food, beverages and tobacco in specialised stores and a 6.4% rise in sales of other household equipment in specialised stores. Turnover in automotive fuels in specialised stores and non-specialised stores grew 3.3 % and 2.1 %, respectively.

Sales of information and communication equipment, however, decreased 7.8%, albeit a much slower drop than July’s 18%. Car sales leapt 30.0%, although they are not included in the headline figure.

Slovak retail sales gained 1.7% last year, slowing from 3.6% in 2014. The country’s economy grew by 3.6% in 2015, driven by domestic demand, which was mostly due to investment pushed by EU fund absorption.

Consumer confidence is, however, on the rise. The indicator edged up 4 points to reach -5.1 in September.

Data

Register here to continue reading this article and 2 more for free or 12 months full access inc. Magazine and Weekly Newspaper for just $119/year.

If you have already registered, enter the information below with the same email you used previously and you will be granted immediate access.

IntelliNews Pro subscribers click here

Thank you. Please complete your registration by confirming your email address. A confirmation email has been sent to the email address you provided.

Thank you for purchasing a bne IntelliNews subscription. We look forward to serving you as one of our paid subscribers. An email confirmation will be sent to the email address you have provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

IntelliNews Pro subscribers click here

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

If you have already registered, enter the information below with the same email you used previously and you will be granted immediate access.

Thank you. Please complete your registration by confirming your email address. The confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss