Romania’s H1 retail trade turnover up 7.3%

Romania’s retail sales grew by 7.3% year-on- year in the six months through June, seasonally and working-day adjusted data from the country’s statistical office, says

In June alone, retail sales were up by an adjusted 6.5% on the year, but fell by 0.4% on the month, the data indicated.

On an unadjusted comparison basis, retail sales rose 7.8% on the year in the first half of 2017.

The data indicates retail trade adjustments in June, driven by the impact of tax cuts, accelerated inflation and increased risk perceptions, impacting on consumer behavior, Banca Transilvania analysts commented in a daily market report.

“This confirms the central macroeconomic scenario of Banca Transilvania, which indicates the entry of private consumption into the maturity phase. According to this scenario, the annual dynamics of private consumption (the main component of GDP) could decelerate from 7.4% in 2016 to 6.3% in 2017 and to 4.4% in 2018,” analysts added.

Romania’s retail sales increased by 13.5% last year.

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