Retail sales in the Czech Republic decreased in September

The Czech economy may go into recession

The decline in retail sales in the Czech Republic has been going on for the fifth month now, but now its extent has moderated. Except for pharmacies and stores selling health products, traffic fell in practically all segments.
Compared to the previous month, statistics showed an increase of 0.8 percent in September.

Financial analysts expect the year-on-year decline in retail sales to continue in the coming months as the Czech population increasingly cuts back on spending. As a result of the drop in demand, many people believe that the Czech economy may go into recession.

“Compared to August, the rate of decline has moderated for food, manufactured goods and fuels as well”

– pointed out Jana Gotvaldová, director of the statistical office.

MTI