July 29, 2015

In June, retail sales rose 3.8% over the same month last year, which was above May’s revised 1.8% increase (previously reported: +2.0% year-on-year). May’s result had marked a six-month low. June’s figure was due to an almost across-the-board improvement in the index, with sales of food and non-food products accelerating notably. On a working-day adjusted basis, retail sales in June expanded 2.2% over the same month last year, which was below May’s 3.4% rise.



As a result of June’s reading, the trend continued to improve as annual average growth in retail sales increased from the previous month’s 2.0% to 2.3%, which marked the highest level since December 2007.

FocusEconomics Consensus Forecast panelists see private consumption expanding 3.2% in 2015, which is unchanged from last month’s forecast. For 2016, the panel sees private consumption growth at 2.6%.