retail

After a rather fluctuating dynamic in the previous months, the retail turnover in May grew 2.0% over April, according to seasonally adjusted data. The rate of annual growth, at 0.7%, has once again turned positive according to calendar-adjusted data. Including car sales (dropped 0.2%), which are not included in the official retail data (yet have a significant effect on overall trade), the retail turnover in May has grown 1.5%, with the rate of annual growth at 10.5%.

Cautious spending by the population, the growing prices of food and fuel influenced by global processes as well as the purchasing-power-dampening tax raises continue to limit the resumption of private consumption. After growing for two consecutive months, the retail turnover once again dropped in April month-on-month (by1.0%; in comparative prices, seasonal factor excluded). This drop was primarily determined by the contracted sales volume of automobile fuel.

After the turning point in February, when growth finally followed the downturn of previous months, the March results were awaited with some impatience. The retail turnover (seasonally adjusted data at constant prices) in March grew moderately (0.6%) month-on-month. That may allay the suspicion that February's rise was an exception and downturn was to continue. Yet this time automobile sales, which is accounted for outside retail turnover, indicated a weaker performance, at -5.0%, after the very sharp rises in previous months.

In February, the retail turnover (in comparative prices, seasonal influence excluded) grew 1.5% month-on-month. This is good news in view of the fact that ever since the end of last year retail turnover had been observed dropping, with the situation better only in automobile sales.

Over recent months, trade data were significantly affected by the sales of fuel, which grew in February after a substantial drop in January, accounting for a positive contribution in the changes of total sales volumes.

In January, retail turnover (in comparative prices, seasonal effects, including Christmas spending, excluded) dropped 1.7% compared to December, this time primarily because of a drop in car fuel sales volumes. In part because of snow-covered (i.e. "fuel guzzling") roads and mostly because of the expected price rises, the sales volumes of fuel had risen 6.2% over a month. The December rise was followed by a 12.5% drop in January. Again: these data reflect the real volumes, excluding the influence of prices.

Retail turnover (in comparative prices, seasonal effect excluded) dropped in December 1.4% month-on-month. Taking into account the deterioration in the mood of both consumers and merchants at the end of the year against the background of drafting the state budget, such a result was not unexpected. The expected rise in tax rates has apparently not been a sufficient stimulus to have a significant positive effect on December sales.

With the December retail data published we can also evaluate 2010 overall and compare the sales volumes against the lowest point of the crisis.

According to the data published by the Central Statistical Agency (CSP), the retail turnover in November grew 0.2% month-on-month (seasonally adjusted data).

Turnover grew 0.9% in the non-food retail businesses, whereas in food retail businesses it dropped 1.3%. The working-day-adjusted annual growth reached 8.1%. Including the sales of cars (excluded from CSP data), the retail turnover grew 1.4% month-on-month and 17.4% year-on-year.

The retail turnover in October (in comparable prices, excluding seasonal influence) dropped 1.7% month-on-month, losing the increase in sales volume of September. Albeit both the consumer and trading mood is improving, the development trend of this indicator is uneven and such periodic drops in the trading sector are not unusual.

The retail turnover in September (in comparative prices, excluding seasonal factors) grew 1.2% month-on-month, with the slow upward trend thus continuing. This growth has been uneven by group of goods: the sales volumes of non-food goods have increased 2.0%, but those of food items have decreased by 0.2%.

According to the information of the Central Statistical Agency, retail turnover in August, by seasonally adjusted data, grew 1.0% month-on-month, which was a 4.6% increase year-on-year (data adjusted to the number of working days). The greatest annual increase was registered in the sales of textile products, household electrical goods as well as retail by post and used goods. The greatest drop in turnover was observed for the sales of audio and video recordings, cosmetics and toiletries as well as for retail in food shops.