Retail sales in January up 2.9% y-o-y

Retail sales in Croatia in January 2016 increased by 1.6% in nominal terms and by 2.9% in real terms in comparison with January 2015, the 18th month in a row that retail sales have been increasing, the National Bureau of Statistics (DZS) said on Monday.

The rise was slower than in December 2015 when retail sales jumped by 4.8%, the largest increase since September 2007.

Four economic analysts polled by Hina had expected an average annual rise in retail sales of 3.2%, their projections ranging from 2% to 4.2%.

"In the months ahead we expect a continuation of positive annual retail sales growth rates, as indicated by the results of a consumer confidence survey. In addition, the tourist pre-season which this year starts earlier because of the Easter holidays and the further absence of inflationary pressures will certainly have a positive impact on retail sales as well," analysts at Raiffeisenbank Austria said in their comment on the DZS report.

They, however, warned that any substantial growth might be limited by internal structural problems, in particular the situation on the labour market which is reflected in low employment and weak purchasing power.

Last update: Mon, 14/03/2016 - 13:51
Author: 

Related

Consumption up for 15 straight months

Business

Thursday, December 3, 2015 - 14:14

Retail sales up for 14 straight months

Business

Tuesday, November 3, 2015 - 14:31

More from Croatia

MP says cancellation of Anne Frank exhibition disgrace for Croatia

Member of Parliament Nenad Stazic of the opposition Social Democratic Party (SDP) said on Friday in parliament that...

HRT condemns increasingly frequent attacks on its employees

Croatian Radio and Television (HRT) on Friday condemned an attack by some web portals on its reporter Jagoda...

Human Rights Watch: Croatian police forcing asylum seekers back to Serbia

Croatian police are forcing asylum seekers back to Serbia, in some cases using violence, without giving them an...

Plenkovic underlines OECD's importance for Croatia

Croatian Prime Minister Andrej Plenkovic, who on Thursday started his visit to Davos, where the World Economic Forum...

Croatian, Slovenian ministers believe agreement on Cimos to be reached soon

Croatian State Property Management Minister Goran Maric and Slovenian Economy and Technology Minister Zdravko...