Montenegro's retail sales grew a real 14.5% y/y in December 2013, quickening from a 12.5% y/y rise the month before, the statistics office said. The reading likely reflects strong seasonal consumption prior and during the end-of-year festivities.
In monthly terms, retail sales swung to a 10.6% increase in December from an 11.0% m/m drop in November.
Overall, the average monthly growth of retail sales in 2013 was 9.4%, up from 5.3% a year ago, partly due to stronger tourism activity. Nonetheless, it remains below the 2011 monthly average of nearly 21.0%.
Weak private consumption, as the unemployment rate hit nearly 15% in early December, will remain a drag on the recovery going forward.
The European Investment Fund (EIF), part of the EIB Group, said on April 15 that it has signed guarantee agreements with 11 banks and financial intermediaries in the Western Balkans. These ... more
EIB Global, the financial arm of the European Investment Bank (EIB) for activities beyond the EU, set a new record by investing €1.2bn in the Western Balkans in 2023, the EIB said on February 9. ... ... more
This Southeast Europe Outlook 2024 has been prepared by bne IntelliNews as part of a series of annual reviews providing updates on the geopolitical, macroeconomic and commercial state of ... more