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December retail sales in Slovakia dwindled by 4 percent y-o-y

Retail sales in Slovakia continued their year-on-year slump at the close of last year. According to data from the Slovak Statistics Office (ŠÚ), in December they decreased by 4 percent to €1.732 billion, while in November they fell by 2.2 percent and in October by 1.8 percent.

Retail sales in Slovakia continued their year-on-year slump at the close of last year. According to data from the Slovak Statistics Office (ŠÚ), in December they decreased by 4 percent to €1.732 billion, while in November they fell by 2.2 percent and in October by 1.8 percent.

The negative trend of the previous months thus continued, as the last time retail sales achieved annual growth was in May, 2012. Overall, retail sales shrank last year one percent compared with 2011 and exceeded €17.9 billion, the SITA newswire quoted the šÚ.

December’s decline in retail sales was influenced by lower retail sales of other goods in specialised stores by 6 percent and lower sales of fuels in specialised stores by 5 percent. Retail sales of other household equipment in specialised stores dwindled as well by 3.4 percent, and retail sales outside stores, stalls or markets by 3.3 percent.

On the other hand, retail sales went up only in stalls and markets by 6.6 percent, informed the authority. Retail sales in Slovakia have been declining for three years. The sector suffered the impacts of the economic crisis as well as a drop in shopping tourism, resulting in 2009 in a year-on-year drop in retail sales by over 10 percent. Retail sales fell again in the following two years. Continued weak consumer demand, however, means there are no significant opportunities for stronger retail sale growth to resume.

(Source: SITA)
Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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