Turnover from retail sales, seen as the most important indicator of the population’s consumption, slowed down in November of last year, but was 11.4 percent higher than the same month of 2016.
In October 2017, the retail sales turnover grew by 13.6 percent from October 2016, after a 13.7 growth in September and 15.9 in August.
Official data, which excludes the sales of motor vehicles and motorcycles, shows that retail businesses were supported in November especially by fuel sales, which had a 13.8 increase from November 2016.
The sale of non-food items grew by 12 percent from November 2016, and food, drinks and tobacco products by 9.2 percent.
From October, retail sales business grew by 2.4 percent in November in gross figures, and by 0.7 percent in figures adjusted to the seasonal influences and the number of working days – the most valuable indicator for analysts.
Over the first 11 months of 2017, business from retail sales grew by 10.3 percent gross and 9.4 percent in adjusted figures, the main driver of the growth being the sales of non-food items.
Sales from the retail sector were stimulated in 2016 and 2017 by the government’s fiscal measures, which cut taxes and increased the salaries of public sector workers, the minimum wage and pensions.