News > Retail Turnover Indicators Stabilize as the Future Evaluation of Households Improve

Retail Turnover Indicators Stabilize as the Future Evaluation of Households Improve

Riga, 30 July 2010. By the Latvian Institute.

On July 30, the Central Statistics Bureau revealed that the seasonally adjusted retail turnover did not change in June 2010 month-on-month. At the points of sale of retail food, the retail turnover has decreased by 0.7% while at non-food retail points of sale it has increased by 0.4%.

Igors Kasjanovs, Bank of Latvia Economics Expert, said: “In June, just like in previous months, the retail turnover was still determined by the growing optimism in the household future expectations - the sales confidence indicator improved by five points and that of consumers by two points. The increase in the number of first-registered automobiles is an additional sign of a rise in household optimism and a more positive assessment of future income. In the surveys of consumer confidence conducted in recent months, the number of consumers that are planning to make large purchases has been on the rise. Such developments indicate a gradual recovery of the domestic demand.”

However, Kasjanovs also indicates several risks, which, while the overall situation remains rather stable, may lead to fluctuations in sales developments in the coming months. Even though the retail turnover developments were also reflected in a better tax (excise and value added) revenue dynamics, labour taxes still lagged behind product taxes. This is an indication that the stabilization of retail turnover in recent months is more based on changes in consumer behaviour and other, possibly short-term factors, instead of fundamental change.

For further information see:
http://www.csb.gov.lv/csp/events/?mode=arh&period=07.2010&cc_cat=472&id=12011

Username

Password

Upcoming Events

JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember

201320122011201020092008200720062005200420032002200120001999