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Wednesday, the Czech Statistical Office said retail sales at constant prices dropped an unadjusted 3.5% on a yearly basis in August, slower than a 4.9% fall in the previous month. Economists expected a 3.1% decline.
This was the 11th consecutive month that retail sales fell. The decline was mainly due to a drop in sales of motor vehicles and non-food goods. Excluding automotive fuel, retail sales at constant prices slipped 1.5% in August, after a 1.1% fall in the previous month.
After adjusting for seasonal effects, retail sales dropped 3.6% year-on-year in August. Month-on-month, retail sales fell a seasonally adjusted 0.3%.
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