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Retail sales up by 5.8% y-o-y in January


Retail sales at current prices grew by 5.8% y-o-y in January, a substantial deceleration compared with the previous month, according to data from the Central Statistical Office (GUS). The result was below market expectations, which averaged 8.5% y-o-y.

In comparison with the corresponding period of 2010, sales were up in five of the main branch specialisations. The highest increase was noted in other sales at non-specialist retail stores (up by 29.4% y-o-y), followed by furniture, radio, TV and household appliances (up by 23.6% y-o-y), and textiles, clothing and footwear (up by 18.5% y-o-y). Solid double-digit growth also occurred in sales of pharmaceuticals, cosmetics and orthopaedic equipment (up by 16.6% y-o-y) and fuels (up by 13.3% y-o-y). Sales of food, beverages and tobacco products were flat compared with a year ago. In two categories sales were lower than in January 2010: in motor vehicles, motor cycles and parts by 4.1% y-o-y and in newspapers, books and other items at specialist stores by 16.3% y-o-y.

In 2010 retail sales at current prices climbed by 5.5%. We forecast that in 2011 retail sales growth will accelerate to 8.1%.

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