Romania’s retail sales index increased by 12.0% y/y in June, decelerating from 18.5% y/y in May and 48.5% y/y in April as the low base effects created by the 2020 lockdown fade out, according to data announced by the statistics office INS.
Over the past 24 months, using a metric that filters out the effects of the lockdown, the sales index has advanced by a robust annualised rate of 7.4%.
The two-year dynamics reveal solid (+11.4% annualised) growth of non-food sales and a slower (+5.2% annualised) advance of food sales.
Even the sales of fuels advanced by 3.6% per annum over the past 24 months (and by 17.6% y/y) but in this case, the demand has suffered a longer-term step correction reflecting the drop in mobility caused by work from home.
In quarterly data, the seasonally adjusted retail sales advanced by 5.8% q/q Q2, after the 0.8% q/q decline in Q1.
Non-food sales soared by 6.0% q/q in Q2, nearly double the 3.1% q/q advance of the food sales.
In the meantime, fuel sales edged down by 1.4% q/q.
The broader picture shows the non-food sales continuing their advance at the same level, nearly untouched by the crisis. The food sales stagnate or are slightly rising and the fuel sales suffered a decline after which they resumed growth from a lower level.