Romania’s retail sales down 4.7% y/y in October despite gradual recovery after VAT rate shock in August
The retail sales volume index in Romania recovered for the second consecutive month in October, when it increased by 0.9% m/m after the 1.3% m/m advance in September – but it was far from fully recovering the 4.0% m/m plunge seen in August…
iulian ernst · Journalist
· Updated · 2 min read
The retail sales volume index in Romania recovered for the second consecutive month in October, when it increased by 0.9% m/m after the 1.3% m/m advance in September – but it was far from fully recovering the 4.0% m/m plunge seen in August as an effect of higher VAT rate enforcement amid already negative consumer sentiment generated by shrinking (-4.2% y/y) real wages and high inflation.
In annual terms, the retail sales dropped by 4.7% y/y in October – the steepest decline since the coronavirus crisis.
