Retail sales increased by 5.6%, y-o-y, in July after a revised drop of 0.4% in June. After working-days-adjustment retail sales grew by 2.0%. Seasonally adjusted m-o-m change reached 0.2%. Retail sales figures confirmed a stable growth of household consumption at the begging of the third quarter. The only sector suffering from lower demand is a sale of cars and other motor vehicles.