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Retail sales up by 8.6% y-o-y in December


Retail sales at current prices grew by 8.6% y-o-y in December, a deceleration compared with the previous month, according to data from the Central Statistical Office (GUS). The result was below market expectations, which averaged 10.5% y-o-y.

In comparison with the corresponding period of 2010, sales were up in almost all of the main branch specialisations, with the single exception of motor vehicles, motor cycles and parts, where they tumbled by 15.9% y-o-y. The highest increase was noted in other retail sale at non-specialised retail stores (up by 33.3% y-o-y), followed by pharmaceuticals, cosmetics and orthopaedic equipment (up by 20% y-o-y), fuels (up by 19.5% y-o-y) and textiles, clothing and footwear (up by 16.5% y-o-y). Sales of newspapers, books and other items at specialist stores went up by 9.8% y-o-y, while sales of furniture, radio, TV and household appliances rose by 9.6% y-o-y. Sales of food, beverages and tobacco products were up by just 1.7% y-o-y.

In January-December retail sales at current prices rose by 11.6% y-o-y. We forecast that in 2012 retail sales growth will slow to 6.2%.

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