Czech retail sales fell further

The purchasing power in the Czech Republic continues to be weak. In November retail sales are decreasing for the fourteenth months, in a bigger amount than it was expected.

On an annual basis, retail sales decreased by 4.9 percent after the 4.7 percent decline of October, while analysts expected only a 1 percent moderation.
According to the forecasts of the central bank, the Czech economy fell by 4.4 percent last year, despite the fact that in the second and third quarter GDP data showed expansion – reports ProfitLine.hu.