Consumer spending on upswing

TALLINN - According to Statistics Estonia, in June 2011 compared to June of the previous year the retail sales of goods of retail trade firms increased 4 percent at constant prices, reports news agency LETA. Compared to the same month of the previous year, the retail sales of retail trade enterprises started to grow again in autumn 2010, after two and a half years’ decline. In January this year the retail sales fell slightly, but in February they turned to an increase again and the growth also continued in March, April, May and June.

In June, the retail sales of goods of retail trade companies were 344 million euros. The increase in retail sales of goods was continually influenced by the stores selling manufactured goods, but compared to previous months the retail sales growth rate slowed down in these stores. If in March those enterprises’ retail sales increased 13 percent during the year, in April 9 percent and in May 7 percent, then in June the increase was 6 percent.
Sales increased in most economic activities. Only the retail sales of pharmaceutical goods and cosmetics were smaller than in June of the previous year. With regard to this economic activity, one of the reasons for the fall in sales was also the higher reference base of the previous year.

In June, retail sales in non-specialized stores, with industrial goods predominating, increased the most, where the retail sales increased 13 percent during the year. Stores selling textiles, clothing and footwear and other specialized stores were also successful. In these stores the retail sales increased 10 percent.
Retail sales in grocery stores recovered remarkably in June and turned from a decrease to an increase again. The retail sales of these stores increased 3 percent compared to June 2010. The growth in retail sales of these stores was influenced by the hot weather in the first half on June and Midsummer Day that caused a rise in sales of food and beverages for the summer season.

Compared to the previous month, retail sales in retail trade enterprises increased 4 percent at constant prices. According to the seasonally and working-day adjusted data, retail sales increased 2 percent. During the first six months of 2011 (January-June), retail sales in retail trade enterprises increased 3 percent at constant prices compared to the corresponding period of the previous year.

In June the revenues from sales of retail trade enterprises were 422 million euros, out of which the retail sales of goods accounted for 81 percent. Compared to June 2010, the revenues from sales increased 10 percent at current prices. Compared to the previous month, this indicator increased 3 percent.