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

How Ukrainian grain wrecked the Polish grain market

The Polish grain market has been thrown into disarray by cheap Ukrainian grain that sent prices plummeting in April, causing Warsaw to impose a five-month ban, backed up by the European Commission. ... more

Slovak OFZ aims to move part of production to Uzbekistan

Metallurgical company OFZ plans to transfer part of its production from Slovakia to Uzbekistan, The Slovak Spectator has reported. The ferroalloy production company from Oravsky Podzamok has ... more

EBRD 2023: EBRD, EU and ILX to co-operate to boost private-sector finance in Emerging Europe

The European Bank for Reconstruction and Development (EBRD), the European Union, and ILX Management, an emerging market asset manager, have joined forces to enhance private-sector finance in Emerging ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    9 days ago
  2. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  3. Don't mention the "D" word - Ukraine
    6 days ago
  4. The 'wet-bulb' set to kill hundreds of thousands of people if temperatures and humidity levels continue to rise
    4 days ago
  5. The models are wrong, climate change is accelerating faster than predicted
    1 day ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    27 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    1 month ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    29 days ago
  5. Saudi Arabia to scale back plans for Neom city
    16 days ago

Reports

Dismiss