Spectator on facebook

Spectator on facebook

BUSINESS BRIEFS

Rising retail sales due to higher consumption

RISING retail sales, up 9.3 percent year-on-year in May and accelerating from 8.6 percent in April, indicates that the Q2 household consumption growth could be even higher than in the first three months of this year, according to ING analyst Eduard Hagara.

These estimates are also supported by a rise in real wages in industry, improving from 1.5 percent in April to 4 percent in May, SITA wrote.

The reported estimates may support the potential for demand inflation risks, but so far anticipated, significant demand pressures have not been present in inflation, said Hagara.

According to data published by the Slovak Statistics Office, the growth of retail sales was supported by a growth of pharmaceutical products and cosmetics retail sales, at 22.7 percent; specialized retail sales, up by 16 percent; retail sales in non-specialized outlets improving by 10.4 percent; and food, drink and tobacco retail sales, which were up by 7.3 percent.

Top stories

Police will check overpriced EU presidency

The presidency will also be scrutinised by state auditors.

The ceremonial launch of the Slovak presidency's logo.

Inspectors to focus on firms with foreign staff

Scrutiny follows media report by Serbian journalist concerning conditions in a Galanta-based plant.

Labour Minister Ján Richter

Bratislava councillors want gambling regulation, not ban

Seventeen councillors do not agree with total prohibition of gambling in the capital, they want to continue in its strict regulation.

SaS denies Russian media reports on its support of Slexit

The opposition party has objected to news in some Russian media stating that it supports the departure of Slovakia from the EU, i.e. Slexit.

Richard Sulík