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Monday, a report released by the Czech Statistical Office revealed that retail sales in the country dropped a seasonally non-adjusted 4.9% year-on-year in July, the same as in the previous month. The decline was largely due to weaker performance in the sale of motor vehicles and the non-food goods, the statistical office said.
The latest drop, measured in constant prices, marked the tenth consecutive month of year-on-year decline in sales. Economists were expecting a much sharper drop of 7%.
On a monthly basis, retail sales including automotive segment increased by a seasonally adjusted 1.1% in July.
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