April 4 (SeeNews) - Romania's retail sales grew by an annual 7.1% on the year in the first two months of 2017, seasonally and working-day adjusted data from the country’s statistical office showed on Tuesday.
On a monthly comparison basis, retail trade turnover was up 1.8% in February, after growing by a revised 0.4% in January, the data indicated.
Romania's retail sales increased by 13.5% last year.
Details follow, seasonally and working-day adjusted data (pct change):
|
Jan-Feb y/y |
Feb y/y |
Retail sales |
7.1% |
7.8% |
-food sales |
3.1% |
3.6% |
-non-food sales |
8.7% |
9.2% |
-fuels |
9.4% |
7.0% |
The figures do not include trade in motor vehicles and motorcycles.
Commenting on the figures on Tuesday, ING Bank analysts noted that February retail sales rebounded after a somewhat soft January, "Overall with real wages growing by 18% on the year and consumer sentiment at all-time highs, it should be no surprise that private consumption (and services) should perform quite strongly in 2017 as well, driving GDP growth," ING Bank analysts said in a daily comment on the financial markets.
For their part, Raiffeisen Bank analysts said that following some signs of weakening posted in the second quarter of 2016 and a tougher start of 2017 retail sales dynamics improved in February. "We expect retail sales to remain on an upward trend in the following months, as net wage earnings in the economy continue to grow at a solid pace and consumers’ confidence is at an elevated level," Raiffeisen Bank analysts said in a daily market report.