Actual (Mar): -0.3 % y/y
Consensus: -0.8 % y/y
Previous (Feb): 1.6 % y/y
The retail sector showed a marginal decline in March, which is slightly better compared with the market consensus. Contrary to the previous readings, the March figure was negatively influenced by the number of working days. In the 1Q the retail sales increased by 0.9 pct. y/y, which is a slowdown in comparison with the previous quarter. The sales figures do not indicate any demand-driven inflationary pressures.
The headline figure was negatively influenced mostly by a decrease in sales of food, vehicles and fuels. On the other hand, the sales of computer equipment, clothes, electronics and household equipment showed strong growth and nearly offset the decline of the former group.