Slovak retail sales rise 1.3% y/y in November 2013, first increase in four months

By bne IntelliNews January 8, 2014

Slovak retail sales increased for the first time in four months in November 2013 rising by 1.3% y/y after a 0.8% annual drop in October, data from the country’s statistics office showed.

The increase was affected mostly by an 8.5% rise in sales of automotive fuels in specialised stores and a 6.7% hike in other household equipment sales in specialised stores.

On a seasonally adjusted monthly basis, November’s retail sales rose 1.1% after remaining flat in October.

Retail sales in the first eleven months of 2013 edged up by 0.1% y/y.

IntelliNews comment: Slovak retail sales witnessed a slight recovery in the first 11 months of 2013 after falling 1% y/y in 2012 reflecting rising real wages which grew by 1.1% y/y in the third quarter of 2013. For full-2013 we do not expect the indicator to post a significant growth given the still high unemployment rate in the country. Slovakia has one of the highest jobless rate in the European Union. It stood at 14.1% in Q3.

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