Retail trade down in June, pessimistic business climate / Article

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Food retail trade turnover increased by 2.8%, but non-food retail trade (excluding automotive fuel retail) fell by 0.2% , while automotive fuel retail revenue declined 8.6% due to soaring prices. .

Compared to June 2021, the most notable increase in turnover was recorded in the retail trade of cultural and leisure goods (by 31.4%), the retail trade of information and communications in specialized stores (8.2%) and the retail sale of cosmetics and toiletries (+5.2%). ). A fall in turnover was recorded in retail trade by mail order or via the Internet (by 12.7%), retail trade in stalls or markets (12.2%) and retail trade in clothing, footwear and leather goods (8.2%).

Total retail turnover at current prices increased by 20.3% (excluding the calendar effect).

Compared to May, the total turnover of retail trade enterprises in June 2022 fell by 0.5%, according to seasonally adjusted data at constant prices. The turnover of the food retail trade decreased by 0.2%. Retail trade of non-food products (excluding automotive fuel retail) decreased by 1.0%, but automotive fuel retail sales increased by 0.4 %.

In a separate statement, the CSB released evidence of deteriorating business sentiment. In July 2022, business confidence indicators fell across all business sectors. Data from the business tendency surveys conducted by the Central Bureau of Statistics (CSB) show that, compared to June, indicators in the manufacturing and services sector improved slightly, but in retail trade and construction they continue down.

Business confidence indicators characterize the general situation of the sector and are acquired by conducting business surveys in industry, construction, retail trade and services. If the indicator is above zero, the business environment is positive, if it is below zero, the business environment is negative.

In July 2022, the seasonally adjusted retail confidence indicator was -4.6. Compared to June, this indicator fell by 3.1 percentage points. The unadjusted indicator was 6.6, which is significantly lower than it usually is in the summer season.

For the second consecutive month, the most optimistic entrepreneurs are in accommodation, the most pessimistic in publishing.

In the services sector, the seasonally adjusted confidence indicator in July 2022 was negative (-1.5) and the business environment for entrepreneurs improved by 2.1 percentage points compared to June.

The construction confidence indicator for July, according to seasonally adjusted data, is -16.2, which, compared to the previous month, decreased by 0.9 percentage points.

In July, compared to June, the confidence indicator in the manufacturing sector increased by 0.4 percentage point and stands at -4.2. It was affected by slightly more positive forecasts from business leaders regarding their production activity for the next three months, as well as by a greater drop in the level of inventories of finished products.

In July 2022, the overall indicator of economic sentiment was 94.8 (90.4 – in June). The economic sentiment indicator characterizes the general socio-economic situation of the country for a certain period of time (months) and is calculated by the European Commission, Directorate General for Economic and Financial Affairs for all EU countries according to a methodology common, taking 15 various seasonally adjusted components included in industry, construction, retail trade and the service sector, as well as in the consumer confidence indicator, as a basis. Growth in the economic sentiment indicator was mainly helped by a significant improvement in consumer assessments in July.

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