ZAGREB, Dec 31
(Hina) - In November 2014, retail trade in Croatia
rose 2.1 percent on the year in real and 1.3% in nominal terms, which
was the fourth month in a row that spending rose and faster than in
October, when it rose 0.3%, the national statistical office said in a
preliminary forecast on Friday.
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ZAGREB, Dec 31
(Hina) - In November 2014, retail trade in Croatia
rose 2.1 percent on the year in real and 1.3% in nominal terms, which
was the fourth month in a row that spending rose and faster than in
October, when it rose 0.3%, the national statistical office said in a
preliminary forecast on Friday.
Although spending increased both on the month and on the year, it remains dependent on trends on the labour market and focused on meeting the basic needs, Raiffeisenbank Austria (RBA) analysts said.
On the other hand, the growth year-on-year was also a result of the higher number of tourist arrivals, both domestic and foreign.
RBA analysts predict a 0.2% growth rate year-on-year. Retail trade is about 20% lower than in 2008, the last year before the recession, they said, adding that high consumer pessimism and a poor outlook on progress on the labour market would continue to negatively affect consumption.