The retail sales index expanded in Romania by 7.1% in January - September compared to the same period last year, the statistics office INS announced.

The sales rose by an above average rate of 7.8% y/y in September alone.

In the year-to-date period, the non-food sales, a good indicator for the consumer confidence, rose by a robust rate of 8.8% year-on-year, versus the slower advance (+5.1%) for food sales.

Fuel sales advanced by 7.3% year-on-year.

The sales figures as of September this year support the hypothesis of the private consumption gaining again momentum after it eased to an annual speed of 5.5% in 2018 from double digit growth rates over the previous two years.

Andrei Radulescu, chief analyst of the country’s largest lender, Banca Transilvania, sees the retail sales growth rate reaching 5.8% this year, up from 5.2% in 2018.

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editor@romania-insider.com