Romania’s retail sales up 11.1% y/y in October

Romania’s retail sales increased in volume terms (comparable prices) by 11.1% y/y in October, marking among the highest growth rates since 2021, according to the statistics office INS.

The seasonally adjusted, non-food sales continued their rally, which resumed in May after the unusual step-like rise in January. From 105%-110% of the average of the year 2021 reported during most of the year 2023, the non-food retail sales hit 129% in October 2024. This resulted in a 19.4% y/y advance witnessing robust consumer confidence.

The robust consumer lending (new consumer loans +62% y/y in October, +59% y/y in Q3) and higher wages (+8.7% y/y in real terms during Q3) have visibly both contributed to the surge of the non-food sales.

The food sales, also correlated with the households’ incomes but also depending on the distribution of the rose among categories of incomes, rose more moderately but substantially by 5.8% y/y in October. As of October, the seasonally adjusted food sales were under 112% of the 2021 average.

With an even more moderate 2.8% y/y advance in October, the sales of fuels reached an advance of 7.8% above the average level in 2021.

(Photo source: Tero Vesalainen/Dreamstime.com)