June 3 (SeeNews) - Romania's retail sales rose by a seasonally and working-day adjusted 6.9% year-on-year in the first four months of 2022, the statistical office, INS, said on Friday.
Also on an adjusted basis, sales of food, beverages and tobacco rose by an annual 4.6%, non-food sales increased 6.7% and sales of fuels were up 10.1% compared to the like period of 2021, INS said in a statement.
Based on unadjusted data, retail sales climbed 5% on the year in the first four months of 2022.
In April alone, Romania's retail sales increased by an adjusted 3.7% year-on-year, after rising by 5.5% the month before. On a monthly comparison basis, retail trade turnover edged up by an adjusted 0.3% in April, after rising by 0.4% in March, the data indicated.
The figures do not include trade in motor vehicles and motorcycles.
According to an analysis by Erste published on Friday, retail sales increased rose below expectations in April, although car fuels sales partially erased the weakness from March, as people
travelled for Easter holidays despite record high prices.
"We forecast a deceleration in retail sales to 3.5% in 2022 versus 10.1% in 2021. Real wage growth is likely to stay negative over the next quarters and interest rates to increase further, affecting consumer loans. Double-digit retail sales growth in 2021, supported by the reopening of the economy after the pandemic, generates a negative statistical base effect for this year growth," Erste said in an e-mailed note.
On the other hand, analysts pointed out, the high number of
Ukrainian refugees crossing into Romania generates additional demand for consumer goods in the short-term.
Details follow, seasonally and working-day adjusted data (pct change):
|
Jan-Apr y/y |
Apr y/y |
Apr m/m |
Retail sales |
6.9 |
3.7 |
0.3 |
-food sales |
4.6 |
3.9 |
1.7 |
-non-food sales |
6.7 |
5.3 |
4.1 |
-fuels |
10.1 |
13.3 |
3.6 |
Romania's retail sales increased by an annual 10.1% in 2021.
(1 euro=4.9411 lei)