Slovak retail sales rise 4% y/y in February 2014

By bne IntelliNews April 3, 2014

Slovak retail sales increased for the fourth straight month in February 2014 with the annual growth speeding up to 4% y/y from 3.1% y/y the month before, data from the country’s statistics office showed.

The February increase was affected mostly by an 18.5% rise in ICT sales, a 9.6% hike in retail sales in non-specialised stores and a 5.6% rise in sales of automotive fuels in specialised stores.

On a seasonally adjusted monthly basis, February’s retail sales grew 0.6% after increasing by 1.0% in January. For the first two months of 2014, retail sales rose by 3.6% y/y.

IntelliNews comment: Slovak retail sales improved further in February reflecting rising wages and improving consumer confidence amid strengthening economic activity. But the still high unemployment rate, which stood at 13.49% in February, will continue to dampen household consumption. According to the European Commission’s latest economic forecast, domestic consumption is expected to grow this year thanks to lower inflation and improving labour market. Such favourable parameters will boost the real incomes and further improve the retail sales.

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. Erdogan lashes out at Germany, Nato, says "God willing" he'll have Russian missiles soon
    2 days ago
  2. STOLYPIN: Donbas continues to be as unpredictable as it is unloved
    2 days ago
  3. Ukrainian farmers turn to Donbas veterans for protection from raiders
    2 days ago
  4. EU allows Gazprom to use an additional 40% of OPAL gas pipeline's capacity
    3 days ago
  5. Tajik president’s 23-year old daughter appointed deputy head of largest Tajik bank
    7 days ago
  1. Erdogan lashes out at Germany, Nato, says "God willing" he'll have Russian missiles soon
    2 days ago
  2. CHINA RISING: When sleeping giants meet
    16 days ago
  3. STOLYPIN: Donbas continues to be as unpredictable as it is unloved
    2 days ago
  4. Belarus’ retail king Euroopt goes on the road
    22 days ago
  5. STOLYPIN: Russia’s cyber-challenge cuts both ways
    24 days ago

Selected articles from our premium news/views wire IntelliNews Pro

Login to IntelliNews Pro
Get IntelliNews Pro

Reports

Dismiss