FOCUS SHORT

Retail sales keep on falling

RETAIL sales continued to decline in Slovakia in September, totalling €1.49 billion, 1.8 percent less than in September 2009. In August, retail sales shrank at the same pace year-on-year. Wholesale sales were also lower year-on-year, recording a drop of 0.8 percent in September after 6.9-percent growth in August. September wholesale sales reached €1.999 billion, the SITA newswire wrote, citing data from the Slovakia’s Statistics Office.

RETAIL sales continued to decline in Slovakia in September, totalling €1.49 billion, 1.8 percent less than in September 2009. In August, retail sales shrank at the same pace year-on-year. Wholesale sales were also lower year-on-year, recording a drop of 0.8 percent in September after 6.9-percent growth in August. September wholesale sales reached €1.999 billion, the SITA newswire wrote, citing data from the Slovakia’s Statistics Office.

Eduard Hagara, senior research analyst at ING Bank, thinks that the continuing drop in retail sales shows that the small increase in employment seen in the private sector in Slovakia during the last few months is not significant enough to strengthen consumer confidence.

“I assume that during the next few months Slovaks will also be careful in spending money and will be opening up their wallets only gradually,” he wrote in his memo for media. “Even though the continuing revival of the economy should continue to create jobs in the private sector, layoffs in the public sector will certainly put a brake on the optimism of consumers.”

Retail sales for the first three quarters of 2010 totalled €12.575 billion, down 2 percent from the same period in 2009.


Get daily Slovak news directly to your inbox

Top stories

News digest: Pilot testing deemed successful

Coronavirus affects bus connections, gastronomy businesses send an open letter to the prime minister. Take a look at the latest in our news digest.

PM Igor Matovič presents the results of the pilot nationwide testing on October 26.

Slovakia orders a curfew and embarks on its COVID experiment

High turnout in testing in four northern districts, decision awaited on extending the project to the nation. Prison for a prominent prosecutor and parliament's speaker injured.

Waiting for the results of COVID tests during the pilot phase of the nationwide testing in the town of Nižná in Orava, northern Slovakia.

No balanced budget for next three years, this time due to COVID-19

2021-2023 general government budgets lack consolidation measures.

Finance Minister Eduard Heger