Analysts: strong consumer confidence maintains the growth in retail sales

Growth in retail sales in June was expected, due to the strong growth of wages in April and May.

The growth in real wages and the 11-year high consumer confidence will keep the pace of retail growth steady at a high level in the coming months, according to market analysts commenting on the first estimate of the Central Statistical Office’s (KSH) on retail sales in June.

According to the Central Statistical Office (KSH), in June, retail sales grew by 5.5 percent year-on-year, and by 6.0 percent calendar effect adjusted. In the first half of the year turnover grew by 4.0 percent, while the calendar effect adjusted indicator showed a 3.9 percent increase. (MTI)