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Czech Retail Sales Growth Exceeds Forecast In February

Retail sales in the Czech Republic increased more than economists expected in February, data released by the Czech Statistical Office showed Wednesday.

Retail sales, including sales and repair of motor vehicles and motor cycles, increased an unadjusted 1.6 percent on an annual basis in February, faster than the 1 percent growth economists forecast. The latest growth was, however, slower than 1.8 percent recorded in January.

Retail sales and repairs of automobiles advanced 3.5 percent year-on-year, while sales of non-food products moved up 2.1 percent. There was a 0.4 percent annual decrease in retail sales of food, beverages and tobacco during the month.

On a monthly basis, retail sales decreased a seasonally adjusted 0.2 percent in February, the agency said.

On a calendar and working-day adjusted basis, Czech retail sales dropped 1.6 percent from the same month last year.

by RTTNews Staff Writer

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