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March 2, 2021

Romania, third-highest retail trade growth in the EU in July

Romania registered in July the third-highest year-on-year retail trade growth in the EU, behind that of Luxembourg and Estonia, the Eurostat data presented on Wednesday shows. At EU level retail trade grew by 1 per cent compared to the same period last year, but dropped by 0.4 per cent compared to June this year. In the Euro Area retail sales grew by 0.8 per cent year-on-year and dropped by 0.4 per cent compared to June. The Eurostat data shows that in August the strongest year-on-year retail trade growth was registered in Luxembourg (14.1 per cent), Bulgaria (9.2 per cent) and Romania (6.3 per cent). At the opposite end, drops were registered in Malta (2.5 per cent), Poland (1.1 per cent), Belgium and Austria (1 per cent). Compared to June, the strongest retail trade growth was registered in Portugal (2.6 per cent) and Latvia (2.2 per cent), while the steepest drops were registered in Austria (-1.5 per cent), Germany (-1.4 per cent) and Sweden (-1.3 per cent).  The Central European Bank will announce this afternoon its monetary policy decisions, most economists expecting new measures meant to support the economy in the Euro Area after most of the states have reported stagnating GDPs or even economic drops for the second quarter.

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