Romania’s retail sales volume index increased by 8.3% year-on-year in July, accelerating from 5.0% annual growth in June and 5.4% average growth in the second quarter of the year, according to data from the National Statistics Institute (INS).
Notably, the sales of non-food goods rose above average by 9.6% year-on-year, indicating robust consumer confidence. Food sales goods rose by 5.9% and the sales of car fuels by 9.6%.
Year-to-date period (January-July), the retail sales volume advanced by 7.1% compared to the same period last year, an annual growth rate that is stronger compared to the 5.5% growth in 2018 but not as high as the double-digit increase seen in 2016-2017.
The households’ incomes have kept rising at fast paces, but for reasons possibly including thinner net bank financing or maybe weaker consumer confidence, retail sales have been lagging behind still growing at robust rates.