The growth in retail sales decelerated in May

According to Statistics Estonia, in May 2014 compared to May of the previous year, the retail sales of goods of retail trade enterprises increased 4% at constant prices. In April retail sales increased 8% compared to the same month of the previous year, while in May the retail sales growth decelerated.

In May 2014, the retail sales of goods of retail trade enterprises were 424.1 million euros, which was 322 euros per inhabitant. The retail sales growth in stores selling manufactured goods slowed down markedly compared to the previous months. The retail sales of those stores increased 13% in March and 11% in April compared to the corresponding month in 2013, whereas in May the growth was 6%. The sales increased in five and decreased in two economic activities. Compared to May 2013, the retail sales via mail order or the Internet increased the most – almost by a fourth (23%). The retail sales increased also in stores selling textiles, clothing and footwear (17% growth), in stores selling pharmaceutical goods and cosmetics (13% growth), in stores selling household goods and appliances, hardware and building materials (6% growth) and in other specialised stores, such as stores selling computers and their accessories, photography supplies, books, sports equipment, games and toys, flowers, plants etc. (5% growth). The retail sales in non-specialised stores selling predominantly industrial goods (e.g. department stores) and the retail sales of second-hand goods in stores and non-store retail sale (stalls, markets, direct sale) decreased compared to May 2013.

The retail sales growth in grocery stores also decelerated in May. Compared to the same month of the previous year, the retail sales in grocery stores grew 8% in April and just 4% in May. The deceleration of this growth rate was mainly due to the high reference base of May 2013.

The retail sales of automotive fuel increased 1% at constant prices compared to May 2013.

Compared to the previous month, in May the retail sales in retail trade enterprises increased 5% at constant prices. According to the seasonally and working-day adjusted data, the retail sales decreased 1% compared to the previous month. During the five months (January–May) of 2014, the retail sales in retail trade enterprises increased 6% at constant prices compared to the corresponding period of the previous year.

In May the turnover of retail trade enterprises was 506.9 million euros, out of which the retail sales of goods accounted for 84%. The turnover increased 5% at current prices compared to April 2014 as well as compared to May 2013.

Retail sales volume index of retail trade enterprises and its trend, January 2004 – May 2014 (2010 = 100)

Diagram: Retail sales volume index of retail trade enterprises and its trend

Source: Statistics Estonia

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