Latvia Retail Sales Shrink in May
Image by Pixabay
Retail sales in Latvia fell by 1% year-on-year in May, following an upwardly revised 3.1% decline in the prior month, data from the Riga-based Central Statistical Bureau (CSB) on Thursday show.
It marks the third consecutive month of shrinking retail activity, although at a more moderate pace.
Lower sales were mainly recorded for retail trade in non-specialized stores selling mainly non-food products (-15.8%); information and communication equipment in specialized stores (-7.8%); cultural and recreation goods (-6.5%) and food products (-6.2%).
Meanwhile, the biggest increases were registered for retail sale of clothing, footwear and leather goods (7.4%); pharmaceutical and medical goods (6.5%) and hardware, instruments, construction materials and sanitary equipment (4.2%).
On a monthly comparison basis, retail trade rose by 0.6% in May, after a 1.3% increase in the prior month.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.