Wednesday, May 21, 2008

Czech Retail Sales March 2008

Czech retail sales showed fell month on month, and year on year in March, after 51 months of consecutive growth. The data were partly influenced by seasonal factors (Easter was in March)and but also provided some evidence of a trend towards slowing consumption. Retail sales fell 2.9 percent year-on-year in March, compared to a 6.3 percent growth in February, data from the Czech statistical office (CSU) showed today. The office said that a drop in sales of pharmaceuticals and food, along with the Easter holiday were the main factors behind the drop.

In March, seasonally adjusted sales in retail trade except of automotive segment dropped by 0.6%, month-on-month, at constant prices, and in the year-on-year comparison, sales increased by 0.7%. Seasonally non adjusted sales dropped by 2.1% after 51 months of incessant growth. The y-o-y sales decrease was recorded in the sale of food, beverages and tobacco and also in the non-food goods sale. Seasonally adjusted sales in automotive segment dropped by 2.2%, m-o-m, at constant prices, in the year-on-year comparison by 0.1% and not seasonally adjusted by 4.4%. Seasonally adjusted sales in hotels and restaurants decreased, m-o-m, by 0.5% and not seasonally adjusted dropped by 3.4%, year-on-year.
CSU Statistics Office

The figures were definitely influenced by seasonal factors and the fact there were two less working days. Overall, however, when adjusted to take allowance of this there is still clearly a deceleration trend.

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