Wednesday, June 18, 2008

Czech Retail Sales April 2008

In April, seasonally adjusted retail sales (except automotive segment) grew by 0.7% month-on-month and by 2.0% year-on-year, at constant prices. The increase of 3.5% in not seasonally adjusted sales was higher than the average growth from the start of the year. Only sale of non-food goods grew; sale of food, beverages and tobacco continued to decrease. Seasonally adjusted sales in the automotive segment dropped by 0.4% month-on-month but were up by 2.3% year-on-year, at constant prices; not seasonally sales were up by 6.8%. Seasonally adjusted sales in hotels and restaurants increased by 0.2% month-on-month and unadjusted sales dropped by 1.1% year-on-year.

This is a modest increase, and if taken together with the data from Eurostat today showing the Czech construction industry declined by 3.5% year on year in April it would definitely suggest that the pace of growth is slowing at the present time.

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