Retail sales in Romania up only 3.9% y/y in May on weaker car fuel sales

The index that shows the volume of retail sales in Romania (at comparable prices) increased by 3.9% year-on-year in May, the statistics office INS informed.

The growth rate is not much above half of the overall 7.2% annual growth of the retail sales in the year-to-date January-May period (five months).

The sales of car fuels have notably contracted by 3% year-on-year in May. The car fuel sales, adjusted for seasonality and workdays dropped in May by 4.1% from April therefore converging figures are pointing to car fuel sales in May diverging from the upward pattern seen in the previous months.

The sales of food and non-food goods eased as well: to 3.7% year-on-year and 8.5% year-on-year respectively (a couple of percentage points below the year-to-date period’s average dynamics). Notably, non-food sales remain strong witnessing robust consumer confidence. Over January-May, the non-food sales advanced by 10.1% y/y.

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