The decline in retail sales accelerated

The decline in retail sales in February accelerated in the Czech Republic. While in January the decline was 0.5 percent on an annual basis, it was 1.7 percent in February – the Czech Statistical Office announced on Thursday.

Retail sales decline was generated mostly by the lower sales in the field of the automotive industry, food trade, sports and culture. Economic experts say that the VAT increase of January played the biggest role in this. (Kokes János, MTI)