Retail sales in Slovakia continue to fall year-on-year. According to the Slovak Statistics Office (ŠÚ), in August they fell 0.9 percent year-on-year. By comparison, the year-on-year decline in July was 2 percent. In financial terms, retail sales in August reached €1.532 billion, the SITA newswire wrote.
Compared to last month, retail sales rose in August by 0.9 percent. For the first eight months of this year, retail sales were €11.598 billion, a year-on-year decline of 0.2 percent. The greatest contributions to the annual drop in retail sales came from the lower turnover in retail trade of other household equipment in specialised stores (down by 3.2 percent); in retail trade outside stores, stalls, or markets (by 3.1 percent); and in retail trade of other goods in specialised stores (by 1.9 percent). Turnover increased only in the sale of motor fuels in specialised outlets and retail sales in non-specialized stores, both by 1.5 percent.
Retail sales in Slovakia have been falling for three years now. The sector is feeling the impact of the economic crisis and so-called shopping tourism, which in 2009 resulted in an annual fall in retail sales of more than 10 percent. Continued weak consumer demand means the retail sector sees little prospect of a return to strong growth.
Compiled by Zuzana Vilikovská from press reports
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