Czech retail sales drop in March
Photo by Kojin / Shutterstock.com
The Czech Republic’s retail sales dropped in March, data from the Czech Statistical Office (CZSO) shows. Retail sales fell by working-day adjusted 9.3% annually in March, after a 3.5% rise in February.
Shopping in Brno, Czech Republic. Photo by Kojin / Shutterstock.com
In January, retail sales grew 4.9%. On an unadjusted basis, retail sales fell 8.9% year-on-year in March. Economists had expected a 9% fall. On a month-on-month basis, retail sales fell 12.2% in March.
Sales of automotive fuel dropped by 15.8% and those of non-food goods declined by 22.7%. Meanwhile, sales of food increased by 3.2%. Sales were influenced by measures taken to prevent the spread of COVID-19 which led many stores with mostly non-food goods to close or limit their operation, the Prague-based agency said.
The most significant annual decrease in sales occurred in stores with clothing, footwear and leather goods by 64.9%, the CZSO said on May 6.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.