Sluggish activity July in Latvian retail sector

Retail data for July published August 29 show fairly sluggish activity in the sector.

Calendar adjusted data (at constant prices) compiled by the Central Statistical Bureau (CSB) show that, compared to July 2023, in July 2024 total retail trade turnover reduced by 0.3 %. Turnover of retail trade in food products fell by 0.3%. Retail trade in non-food products (except for retail sale of automotive fuel) increased by 0.2 %, but turnover of retail sale of automotive fuel reduced by 1.6 %.

As compared to July 2023, the largest turnover rise was registered in retail sale of information and communication equipment in specialised stores (of 16.4 %), retail sale of clothing, footwear and leather goods (4.8 %) and retail sale of electrical household appliances in specialised stores (4.1 %). Turnover drop was registered in retail sale in non-specialised stores selling mainly non-food products (of 8.0 %), retail sale in stalls or markets (4.8 %) and retail sale of cultural and recreation goods (3.7 %).

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Retail trade turnover at current prices increased by 3.4% (not taking into account the calendar influence).

Compared to June, the total turnover of retail trade in July 2024 rose by 0.6 %, according to seasonally adjusted data at constant prices. Turnover of retail trade in food products grew by 1.1%. Retail trade in non-food products (except for retail sale of automotive fuel) increased by 0.6 %, but turnover of retail sale of automotive fuel has not changed.

Compared to the previous month, the largest turnover growth was observed in retail sale in stalls or markets (of 3.6 %), retail sale of clothing, footwear and leather goods (3.0 %) and retail sale of electrical household appliances in specialised stores (2.8 %). The largest turnover drop was registered in retail sale in non-specialised stores selling mainly non-food products (of 9.3 %) and retail sale via mail order houses or via Internet (4.8 %).

Compared to June, in July 2024 retail trade turnover at current prices (not taking into account seasonality) increased by 3.9 %.

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