TNBiz (TNBiz)
Macroeconomics  |  June 30, 2012 09:14:48

Retail sales in the Czech Republic in May fell by 3.2 percent, analysts estimate

PRAGUE (MEDIAFAX) - Czech Statistical Office (CSO) on Wednesday May publish information on the development of retail sales in the Czech Republic. These analysts surveyed by Bloomberg fell by 3.2 percent in April retail sales in the CR fell by 4.1 percent.

"According to our analysis could retail in May year on year drop of four percent. This is mainly due to the decline in consumer confidence and zero-year change in unemployment, which favors that people will spend less, "said the agency Mediafax GE Money Bank analyst Peter Gapko.

"In the retail market we expect sales in May in the Czech shops stagnated over the previous year in April, a decrease of 4.1 percent.This favorable statistics is the fact that there was no such failure to sell cars that make up a considerable proportion of the turnover in retail sales, "said chief economist at Patria Finance analyst David Marek, with the rest in terms of retail after disregarding the car, you can expect stagnation or a slight decline. "Negative conditions persist in the form of slightly rising unemployment, stagnation of real wages decline in consumer credit and growing skepticism of households," said Marek.

After adjustment for seasonal effects, sales in the automotive segment in April mom actually fell by 2.1 percent annually and adjusted for working days fell by 4.1 percent. The annual decline in sales was reflected in the retail automotive segment.

The reduction in sales for the same number of working days this year and last year was due to decreased sales in both retail (-2.2 pp) and in the automotive segment (-1.9 pp).

Jan Soukup,

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