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Estonia March Retail Sales Growth Slows Sharply

Estonia's retail sales increased at a markedly slower rate in March, data released by Statistics Estonia showed Monday.

Retail sales volume increased 7 percent on an annual basis in March, notably slower than the 13 percent growth recorded in February. In January, sales climbed 16 percent year-on-year. The deceleration in the growth rate in March was due to the higher reference base of the previous year.

Sales in grocery stores advanced increased 6 percent annually, while sales of food products moved up 3 percent during the month.

On a monthly basis, retail sales decreased a seasonally and working-day adjusted 1 percent in March. In the three months ended March, retail sales in retail trade enterprises increased 12 percent from the corresponding period of the previous year, the agency said.

Published: 2012-04-30 06:22:00 UTC+00

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Jun 19 at 11:45 UTC