The moderation in retail sales growth is in line with slower spending growth by households. Disposable incomes are under strain from rising interest rates‚ high inflation and administered prices.
Seasonally adjusted retail trade sales increased by 0.6% month on month in August following month-on-month changes of 1.2% in July and -0.8% in June.
The main contributors to the 2.1% increase were general dealers who contributed 1.4 percentage points‚ and retailers in hardware‚ paint and glass‚ who contributed 0.4 of a percentage point.
Seasonally adjusted retail trade sales increased by 0.9% in the three months ended August 2014 compared with the previous three months.
Retail trade sales increased by 1.2% in the three months ended August 2014 compared with the three months ended August 2013 mainly due to contributions from general dealers.
Source: BDpro via I-Net Bridge
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