Growth in retail sales has stalled

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.