Romania’s retail sales in May still 9.4% below pre-crisis level despite bounce back

The retail sales volume index, seasonally and workday adjusted, bounced back by 20% in May compared to April after the deep 22% plunge seen in April when the lockdown pushed down the non-essential sales and particularly the fuels sales.

Compared to February, before the coronavirus outbreak, the index lags by 9.4%.

In annual terms, the retail sales in May were 5.4% lower than in the same month last year.

The food sales, less volatile by their nature, are down only 6.0% compared to the pre-crisis level and recorded positive annual growth in May: +5.2% year-on-year. The non-food sales were more vulnerable to the lockdown and the consumer confidence shock: they lag by 7.7% behind the pre-crisis level and are 5.3% down year-on-year.

The fuel sales are a particular case since the movement restrictions hit them hard. Thus, fuel sales went down 35% month-on-month in April and only partially recovered in May (+22.3% month-on-month), being 22% lower than in May last year.

(Photo source: Shutterstock)