Retail sales in Slovakia are continuing their year-on-year slump. According to data from the Slovak Statistics Office (ŠÚ), in October they fell by 1.8 percent to €1.543 billion. In September they fell by 1.7 percent; the last time retail sales saw annual growth was in May. For the first ten months of this year, retail sales reached €14.666 billion, down 0.5 percent from the same period of last year. In monthly terms, retail sales fell 0.9 percent between September and October.
The development of retail sales in annual terms was influenced by lower retail sales of other household equipment in specialised stores by 3 percent, in retail trade outside stores, stalls or markets by 2.7 percent and in retail sales of other goods in specialised stores by 2.6 percent. Sales increased only in retail of motor fuels in specialised outlets by 1.3 percent. Retail sales in Slovakia have been declining for three years, the SITA newswire wrote. The sector suffered from the impact of the economic crisis as well as from shopping tourism, resulting in 2009 in a year-on-year drop in retail sales of over 10 percent. Retail sales fell again in the following two years, in 2011 by 2.8 percent. Consumer demand currently shows little signs of a revival, say market analysts.
Source: SITA
Compiled by Zuzana Vilikovská from press reports
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