According to preliminary calendar adjusted data from the Central Bureau of Statistics (CBS), turnover in retail trade was relatively strong in July, after falling by 2% in August recorded a slight real growth rate of 0.3% per annum (nominal -1.5%).<\/p>\n
‘And while the relatively moderate real growth rate on an annual basis reflects long-term weakness in the labor market as a result of which reached a high level of consumer pessimism, a sharp fall in nominal terms is the result of deflationary trends that the average decline in consumer prices, “analysts say the RBA. Compared to July according to seasonally adjusted data, increased turnover in retail trade and in real terms by 1.8% in nominal and 1.2%. ‘growth on a monthly basis certainly contributed to the better results from the tourism sector in August compared to July, or because of the growing number of tourist arrivals and nights on a monthly and annual basis, “said in an analysis on the other hand, regarding the original, unadjusted indices of turnover in retail trade was up on a monthly basis (+ 2.3% in nominal and + 2.6% in real terms) while on-year growth recorded real decline of 1.4% and a nominal decrease of 2.6%. For Monday, October 11 provides for the publication of the final announcement of retail trade by industry. ‘negative contribution turnover in retail trade will continue to come from a high level of consumer pessimism and poor prospects for positive developments in the labor market. Therefore, the level of this year we expect a very slight annual growth rate of 0.2%, which can be characterized as stagnation in turnover in retail trade at levels about 20 percent lower compared to predrecesijsku 2008 ‘, concluded the RBA analysts.<\/p>\n