Estonian consumers slow their spending

  • 2012-05-02
  • From wire reports

TALLINN - According to Statistics Estonia, in March 2012 compared to March of the previous year, the retail sales of goods of retail trade companies increased 7 percent at constant prices in Estonia, reports LETA.
This January retail sales increased 16 percent compared to the same month of the previous year. In February retail sales growth slowed slightly, but still achieved a significant 13 percent growth. In March sales growth decelerated even more. The deceleration was partly influenced by the higher reference base of the previous year.

In March 2012, retail sales of goods were 342.5 million euros. Sales increased in all economic activities. Retail sales in stores selling manufactured goods that slightly slowed in February decelerated even more in March. If in January those enterprises’ retail sales increased 23 percent during the year and in February 17 percent, then in March the increase was 11 percent. Retail sales in stores selling textiles, clothing and footwear increased the most, where the sales grew by a fourth during the year.

In March compared to the previous month, retail sales in retail trade firms increased by a tenth at constant prices. According to the seasonally and working-day adjusted data, retail sales decreased 1 percent compared to the previous month. During the first three months of 2012 (January–March), retail sales in retail trade enterprises increased 12 percent at constant prices compared to the corresponding period of the previous year.

In March the revenues from sales of retail trade enterprises were 429.9 million euros, out of which retail sales of goods accounted for 80 percent. Compared to March 2011, the revenues from sales increased by 15 percent at current prices. Compared to the previous month, this indicator increased 11 percent.