Kazakhstan's manufacturing remained under pressure in May, PMI data shows
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Estonian retail sales grew 1% y/y in constant prices in June, according to data released by Statistics Estonia on July 30.
The reading sees the sector return to the feeble growth rate of March and April, with the overall turnover at Estonian shops coming in at €613.6mn.
Despite a weakened performance in four out of six months this year, consumption is still expected to be an important driver of economic growth in 2018, although the pace of GDP expansion is generally expected to weaken to 3.7%-3.9% after pushing to 4.9% in 2017. The economy grew 3.6% y/y in the first quarter.
Stores selling manufactured goods saw sales grow 2% y/y in June, as many as 4pp below annual expansion in May, Statistics Estonia noted. The growth happened on the back of fast-rising sales of household goods and appliances, hardware and building materials, which grew 9% on the year in June.
Turnover in grocery stores fell 4% on the year, reversing on an annual growth of 2% in the previous month. Fuel sales declined 4% y/y, increasing the decline rate by 3pp compared to May.
In monthly terms, retail sales fell 2% in June. Seasonally and working day adjusted, sales retreated 2% m/m as well. Sales expanded 0.5% y/y in January-June.
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