Analysts: the rise in retail sales is higher than expected

The pace of retail turnover in January exceeded the expectations. The increase of real wages and the demand for durable consumer goods generate strong growth this year, which could only be moderated by last year’s high base in the second half of the year – the Central Statistical Office (KSH) commented in its preliminary report to MTI.

According to KSH’s first estimate, in January, retail sales at unchanged prices were 7.5 percent higher than the one-year-earlier figure, both raw and calendar-effect adjusted. The turnover of grocery stores grew by 4.4 percent, while the sales of non-food stores increased by 11.6 percent, fuel consumption increased by 8.1 percent in the first month of 2017. (MTI)