Romania’s October retail sales confirm weaker private demand

Romania’s October retail sales confirm weaker private demand

/ bne IntelliNews

By bne IntelliNews December 7, 2022

Seasonally-adjusted non-food retail sales in Romania edged down by 0.8% m/m in October, after the 1.2% m/m decline in September, marking a six-month decline for the index that reflects consumer confidence.

Overall, retail sales increased by 4.5% y/y in October, the Romanian statistics office announced. However, the growth was mainly driven by the 15.6% y/y surge in fuel sales, while non-food sales edged up by 1.5% y/y and food sales were even weaker (+1.3% y/y).

Fuel sales have already recovered to pre-pandemic levels but remain remarkably buoyant particularly given the prices.

Food sales, which reflect households’ budgets, kicked up in October compared to September (+1.2%) but this only partly reversed the combined 2% decline accumulated over the previous two months.

Both food and non-food sales (seasonally adjusted) remain below the peak levels reached in April-May.

#romania #bnechart

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