Retail sales fell more than expected last year, by a quarter of a percent. Analysts contacted by the Bloomberg agency predicted a decline of only 3.7 percent in the average values of their estimates.
The relatively gloomy consumer mood compared to the last twenty years and even below average is the main source of life’s significant and not expected decline in retail needs. In between, people looked at both non-food goods, especially electronics, clothing and footwear, and household items, as well as food.
Revenues for non-food products fell by 5.9 percent compared to the increase in inflation, and for food products by 3.2 percent. People in Esk and Meziron spent more on fuel, by 4.5 percent. Especially the discounting of gasoline and diesel fuel, to which the rate will go down, as well as the general inflation of the population, which will drive them to higher consumption.
Another reason for weak and unmet needs is that I go to cheaper Poland and Germany for shopping, which is now advertising what it is like to buy food, and I am the prime minister of Fiala. This year, in the course of foreign purchases, approximately 60 billion crowns will be spent abroad, if we go by the spring meeting of the Association of Small and Small Businessmen and Entrepreneurs. He didn’t have billions in taxes.
For the whole of this year, you have to deal with a drop in retail needs of about 4.5 percent, when the situation in the retail sector will improve in the last months of the year and then in the fifth year. In the fifth year, the retail trade could therefore grow by 3.5 percent, mainly due to the disappearance of unusually high inflation.
Luk Kovanda, Ph.D.
Chief Economist, Trinity Bank
Trinity Bank has been operating on the financial market for 25 years, and the transformation of the Moravský Penn status of the cooperative was created. It has more than 92,000 clients and its balance sheet amount exceeds K65 billion.
Trinity Bank specializes in private and corporate banking, for natural persons it focuses mainly on deposit and savings products, which offer superior value for money.
More information at: www.trinitybank.cz