Growth in retail sales has stalled

By: Trademagazin Date: 2024. 06. 12. 13:27

In April, the momentum of the recovery of retail trade stalled, the decrease was 0.9% on a monthly basis. The upward trend in consumer confidence has flattened recently, while fears of unemployment are rising, so consumer caution has not yet dissipated. At the same time, rising real wages indicate that the trend-like increase in retail sales may continue.

Trade performance:

Based on the data adjusted for seasonal and calendar effects in April, the volume of retail trade decreased by 0.9% on a monthly basis.Compared to the expansion in March, the momentum in the turnover of stores fell, but at the same time, the fact that the March data could have been significantly boosted by the Easter turnover may play a role in this. At the same time, the current data confirms us that consumer caution is still present in the economy, and the recovery of retail sales is gradual.The recovery can be felt despite all of this: compared to last October’s level (when the turnover of retail trade is more visible in the data), even the current, below-expected turnover is 3.1 percent higher.