| Bosnias Serb Republic retail trade turnover dropped 17.8% m/m in January 2012, the statistics office said in a statement. The office did not provide year-on-year comparison figures due to change in methodology. The structural breakdown shows that January retail sales of food, beverages and tobacco (down 20% m/m) and other retail trade out of stores (down 40.6% m/m) recorded the steepest decline while trade of motor fuels and lubricants fell 12.3% over the period. According to our calculations the average monthly growth rate of Bosnia's Serb Republic retail trade turnover in 2012 stood at 1.2%, down from close to 6% in 2011. We expect the overall growth of retail trade turnover this year to stay weak as household consumption remains subdued due to high unemployment and fiscal austerity measures introduced as part of Bosnia's loan deal with the IMF. |
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