Romania's retail sales down 2.3% q/q in Q3 after austerity measures
Retail sales volume contracted by 2.3% q/q in Q3, resulting in a 0.3% y/y decline in Romania (the second negative reading since the Covid-19 pandemic), visibly dragged down by the real wages that contracted by 3.7% y/y in July-August…
iulian ernst · Journalist
· Updated · 2 min read
Retail sales volume contracted by 2.3% q/q in Q3, resulting in a 0.3% y/y decline in Romania (the second negative reading since the Covid-19 pandemic), visibly dragged down by the real wages that contracted by 3.7% y/y in July-August (latest data available) after +2.2% y/y in Q2, +4.6% y/y in Q1 and around 9%-10% y/y in the last three quarters of 2024, according to data published by the statistics office.
The rise in employment weakened to +0.1% y/y in July-August, after the employment dynamics had contributed to consolidating the households' budgets in the past: +0.6% y/y in H1, +0.7% y/y in 2024, and +1.3% y/y in 2023.
