Analysts: the rise in wages lays the foundations for retail sales growth

In July, after two months of modest growth, retail business turnover increased dynamically again. The double-digit wage growth predicting continued sustained growth in consumption and retail, thereby remaining an important driver of economic growth (GDP), analysts told MTI, commenting the latest report of KSH.

According to the Central Statistical Office (KSH), retail trade turnover in July was 6.9 percent higher than a year before according to raw data. Adjusted for calendar effects, it was 6.4 percent higher than in the same period of the previous year. (MTI)