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Iulian Ernst
Senior Editor

Iulian studied physics at the University of Bucharest, and he sees himself as a physicist in the broadest sense of the word. He also studied economics at Charles University in Prague and Central European University in Budapest, after a master’s program in business administration at Bucharest Academy of Economic Studies. Since recently, he’s been exploring coding and data analysis for business and economics. As a freelancer, he worked for nearly two decades as an analyst for ISI Emerging Markets, Euromonitor International, Business New Europe, but also as a consultant for OMV Petrom and UkrAgroConsult. Iulian was part of the founding team of Ziarul Financiar. At Romania Insider, which he joined in 2018, he is reviewing the latest economic developments for the premium bulletins and newsletters. He would gladly discuss topics such as macroeconomics, emerging markets, Prague, energy sector including renewable, Led Zeppelin, financial services, as well as tech start-ups and innovative technologies. Email him at iulian@romania-insider.com. 

 

Retail sales in Romania remain strong toward the end of 2020

The retail sales volume index in Romania increased by 3.4% in November compared to the same month of 2019, slightly losing momentum from the 4-5% annual growth rates in September-October.

The steady improvement, particularly in the non-food area, shows healthy consumer confidence supported by the robust real wage growth (+4.9% year-on-year in October) and still moderate unemployment rates (5.3% in October, in seasonally adjusted terms up from the 3.7% minimum in January).

The growth pace will predictably ease in January as the wages in the public sector are frozen, and the minimum wage will inch up marginally (compared to the leaps seen in the past years).

In November, non-food sales rose by 9.7% year-on-year, maintaining a robust growth pace although slightly lower than the double-digit rates in September-October. November is traditionally one of the best months for non-food sales due to the Black Friday sales events.

Fuel sales remained in the negative area (-7.3% year-on-year), although the only mobility constraints in November were related to remote working. Food sales increased by 1.9% year-on-year in November and lagged (in seasonally adjusted terms) an insignificant 0.2% below the pre-crisis peak hit in February.

Meanwhile, the overall retail sales index (in seasonally adjusted terms) advanced by 0.7% in November versus October, going 1.5% above February pre-crisis level. The weak fuel sales (-12.3% versus February) dragged down the advance. Non-food sales rose by 9.5% versus February already.

iulian@romania-insider.com

(Photo source: Shutterstock)

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Profile picture for user iuliane
Iulian Ernst
Senior Editor

Iulian studied physics at the University of Bucharest, and he sees himself as a physicist in the broadest sense of the word. He also studied economics at Charles University in Prague and Central European University in Budapest, after a master’s program in business administration at Bucharest Academy of Economic Studies. Since recently, he’s been exploring coding and data analysis for business and economics. As a freelancer, he worked for nearly two decades as an analyst for ISI Emerging Markets, Euromonitor International, Business New Europe, but also as a consultant for OMV Petrom and UkrAgroConsult. Iulian was part of the founding team of Ziarul Financiar. At Romania Insider, which he joined in 2018, he is reviewing the latest economic developments for the premium bulletins and newsletters. He would gladly discuss topics such as macroeconomics, emerging markets, Prague, energy sector including renewable, Led Zeppelin, financial services, as well as tech start-ups and innovative technologies. Email him at iulian@romania-insider.com. 

 

Retail sales in Romania remain strong toward the end of 2020

The retail sales volume index in Romania increased by 3.4% in November compared to the same month of 2019, slightly losing momentum from the 4-5% annual growth rates in September-October.

The steady improvement, particularly in the non-food area, shows healthy consumer confidence supported by the robust real wage growth (+4.9% year-on-year in October) and still moderate unemployment rates (5.3% in October, in seasonally adjusted terms up from the 3.7% minimum in January).

The growth pace will predictably ease in January as the wages in the public sector are frozen, and the minimum wage will inch up marginally (compared to the leaps seen in the past years).

In November, non-food sales rose by 9.7% year-on-year, maintaining a robust growth pace although slightly lower than the double-digit rates in September-October. November is traditionally one of the best months for non-food sales due to the Black Friday sales events.

Fuel sales remained in the negative area (-7.3% year-on-year), although the only mobility constraints in November were related to remote working. Food sales increased by 1.9% year-on-year in November and lagged (in seasonally adjusted terms) an insignificant 0.2% below the pre-crisis peak hit in February.

Meanwhile, the overall retail sales index (in seasonally adjusted terms) advanced by 0.7% in November versus October, going 1.5% above February pre-crisis level. The weak fuel sales (-12.3% versus February) dragged down the advance. Non-food sales rose by 9.5% versus February already.

iulian@romania-insider.com

(Photo source: Shutterstock)

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