The retail sales index in Romania rose by 14.6% y/y in April, according to data published by the statistics office INS.
The retail sales in the rolling 12 months to April increased by a more moderate rate of 3.3% y/y, still well above the 1.6% y/y growth calculated for the last year.
The seasonally adjusted sales leaped up by 4.6% in January compared to December and have afterward advanced constantly. The sales of non-food items (+8.6% m/m in January), generally indicating consumers’ confidence, was the main driver behind the step-like increase in sales.
The higher real wages (+6.5% y/y in real terms, in Q1), the real advance of the stock of retail bank loans (+8.2% y/y in April versus 5.9% y/y inflation), and robust consumer confidence have all contributed to the impressive advance of the retail sales in April. Low base effects (retail sales dropped by 1.9% y/y in April 2023) added more impetus.
The sales of non-food items surged by 21.9% y/y in April, revealing robust consumer confidence. The sales of food goods advanced by only 6.3% y/y, and the sales of car fuels by 14.7% y/y.
In seasonally adjusted terms, the retail sales reached a new record after 0.8% m/m advance.
iulian@romania-insider.com
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