Retail sales increased higher than expectated in the first quarter

The growth in retail sales in March surpassed the expectation of analysts, who suggest that gross domestic product could rise sharply in Q1.

According to the first estimate published by the Central Statistical Office (KSH) on Friday, retail sales increased by 8.5 percent according to the raw data in January and by 7.1 percent calendar effect adjusted mainly due to the Eater-effect, compared to the same period of last year. The raw data shows the highest growth since January 2015. (MTI)