FX.co ★ Czech Retail Sales Rise Further

The Czech Republic has experienced a boost in retail sales for a consecutive second month in January, predominantly due to heightened demand for non-food items, as per the data presented by the Czech Statistical Office on Tuesday.

Excluding the sales of motor vehicles and motorcycles, there was a year-on-year increase of 2.4% in January in retail sales, making a significant improvement upon the 1.2% increase noted in the preceding month. This surpassed the expected forecast of a mere 0.3% increase.

The records highlighted a 4.0% year-on-year growth in January for non-food product sales, with food, beverages, and tobacco experiencing a marginal 0.4% increase.

The data additionally indicated a 2.3% increase in retail sales of automotive fuel through specialised outlets. There was also a 3.3% growth in sales and repairs of motor vehicles and motorcycles.

Further, there was a substantial 13.2% boom in retail sales through mail order or internet transactions.

When compared to the preceding month, retail sales saw a minor uptick of 1.0%.