Czech retail sales declined by 4.1% in 2023

Czech retail sales declined by 4.1% in 2023

/ bne IntelliNews

By Albin Sybera February 8, 2024

Sales in Czech retail trade decreased by 4.1% in 2023, the worst annual decline since 2001, when the Czech Statistical Office (CZSO) began to keep records of these.

Despite some improvements towards the end of 2023, retail sales declined for much of the year. In 2022, retail sales declined by 3.8% overall.

In December, sales in retail trade increased by 1.6% year-on-year and by 0.2% month-on-month, CZSO also reported.

“Sale of non-food goods and automotive fuel contributed to the increase”, commented Jana Gottvaldova, Head of the Trade, Transport and Service Statistics Unit at CZSO.

“Sales of food were constantly decreasing already for the twentieth successive month; however, the decrease rate slackened in December”, she added.

Sales of automotive fuel increased by 0.9% m-o-m and sales of non-food goods by 0.5%. Sales of food decreased by 0.4%.

In y/y terms, retail sales of cosmetic and toilet articles increased by 15.5%, followed by sales of information and communication equipment by 11.2%.

#CZECHIA #macro #retail

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