Croatia Among EU Countries with Significant Decline in Retail Sales at the End of Summer

In August, Croatia was among the EU countries with a significant decline in retail sales, alongside Bulgaria, reported the European statistical office on Monday.

Seasonally adjusted retail sales in the eurozone increased by 0.2 percent in August compared to the previous month, which was up by 0.1 percent, Eurostat announced. At the EU level, it increased by 0.3 percent, according to the August data, three times stronger than in July. The highest increase in August was recorded in fuel stations, up by 1.1 percent in the eurozone and 1.0 percent in the EU, determined Eurostat.

In stores of broad categories of non-food products, sales increased by 0.3 percent in both areas. The weakest sales growth was recorded in food, beverage, and tobacco stores, with an increase of 0.2 percent in the eurozone and 0.1 percent in the EU, calculated Eurostat.

Croatia Alongside Bulgaria

The strongest retail sales growth in August was recorded in Luxembourg, at 5.3 percent. This was followed by Cyprus, where sales increased by 2.2 percent. The most significant monthly decline in sales was recorded in Denmark, at 1.5 percent, followed by Slovakia, where sales decreased by 1.1 percent.

Eurostat highlighted Croatia and Bulgaria in the group of countries with a significant decline in sales in August on a monthly basis, where sales decreased by 0.7 percent. In July, stores in Croatia recorded a 1.4 percent jump in sales, the strongest since May last year.

Slovenia was also close to Croatia and Bulgaria in August, with a 0.6 percent decline in sales. Eurostat did not have data for the Czech Republic, Germany, and Greece.

Sales at Fuel Stations

On an annual basis, seasonally adjusted retail sales in the eurozone increased by 0.8 percent in August, after nearly stagnation in the previous month.

In the EU, retail sales increased by 1.0 percent, after a revised increase of 0.3 percent in the previous month. The highest increase in both areas in August was recorded in fuel stations, up by 2.5 percent in the eurozone and 2.0 percent in the EU. This was followed by stores of broad categories of non-food products, with sales growth of 1.4 percent in the eurozone and 1.7 percent in the EU. Retail sales of food, beverages, and tobacco remained more or less stagnant in both areas.

Jump in Luxembourg

The most significant annual increase in August was recorded in Luxembourg, at 17.3 percent. This was followed by Romania with 8.9 percent.

Croatia is also in the group, alongside Cyprus, with a 5.7 percent increase in retail sales in August compared to the same month last year when strong storms hindered purchases. In July, sales had increased by 7.9 percent. The most significant decline in sales at the end of this year’s summer was recorded in Estonia, at 2.7 percent.

Also in the group are Belgium, where sales decreased by 1.7 percent, and Denmark and Ireland, with a sales decline of 1.6 percent, as shown in Eurostat’s report.