Romanian retail at pre-crisis levels, says ING

Newsroom 03/03/2016 | 12:49

In January 2016, Romania retail sales went up by 1.9 percent and 14.9 percent (adjusted series) month on month and year on year, respectively, according to data published by the Romanian National Institute of Statistics (INS). This was “the fastest yearly expansion since September 2008, signaling very strong private demand at the start of the year,” said Ciprian Dascalu, chief economist at ING Romania.

In terms of gross series, January 2016 saw the retail turnover (without the trade with motor vehicles and motorcycles) go up by 15.6 percent compared to January 2015. This number put it in first place among EU member states for which data was available in terms of the highest increases in total retail trade, according to a recent report from Eurostat.

When looking at the adjusted series, January 2016 saw the retail turnover volume (excluding trade with motor vehicles and motorcycles) go up by 1.9 percent, as compared to the previous month. This was due to a 7.0 percent increase in the retail of automotive fuel in specialized stores and a 1.4 percent increase in the sale of food, beverages and tobacco, as detailed in the INS report. The sale of non-food products remained at the same level.

Year on year in terms of adjusted series, January 2016 saw the retail turnover volume (excluding the trade with motor vehicles and motorcycles) go up too, increasing by 14.9 percent. The change came as a result of the 26.1 percent increase seen by the sale of food, beverages and tobacco, and the 10.6 percent increase in the sale of non-food products, and the 5.7 percent increase in the retail of automotive fuel in specialized stores.

Regarding the increase in non-food sales, “such brisk growth points to upside risks to short-term GDP growth, while also underscoring the scope for much higher demand-led inflationary pressures,” stated Dascalu.

Andreea Tint

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