Latest News  

Retail sales up almost 15%, IT&C among top rates with 20% and steadying

Romanian retail sales keep strong momentum, accelerating to a whopping 14.9% rate year on year (YoY) in January 2016, after a 1.9% monthly expansion, coming from 14.2% YoY in December 2015 (upwardly revised from 13.0%), as fuel sales surged, says an ING report.

2016-03-03 13:06:26 - by Bogdan Tudorache

"There have been some significant backward data revisions, with 2015 retail sales now looking better for the whole year, particularly in the second semester. Meanwhile, 2016's start was solid for retail after fuel sales jumped by a whopping 7% monthly in January 2016, as prices went down both due to the cheaper crude and the 4 points headline VAT cut. This helped take the headline rate to its best level since September 2008," says ING.

Meanwhile, sales of food items are up 26.1% YoY, with probably around half of this expansion reflecting a lower tax evasion after the VAT for these goods was cut in Jun-15.

"The retail activity for non-food goods is, in our opinion, a better gauge for the overall consumer morale. In January 2016, although flat on the month, retail sales for non-food items were up by 10.6% YoY from a year ago, more than four times larger than the average expansion in 2015 (of +2.5%)," say ING experts.

This print seems largely driven by sales of clothing, footwear and IT&C, which expanded well in excess of 20% YoY, while sales of household appliances are not doing as well, but are still growing nicely.
The appetence for spending seems high also if you look at tourism services (up by 16% YoY in Jan-16), auto sales (+13.8% YoY) and RON consumer loans (+10.9% YoY), ING analysts conclude.


0 COMMENTS ^ Go back to Top
WRITE A COMMENT ^ Go back to Top
 
Your email address will not be published.
Nickname
Email
Comment
Validation Code
   
 
 
NEWS
CTP is launching a project for the workforce market in the areas near its parks in Western Bucharest

CTP, the leading premium industrial parks developer and long-term manager in Romania and Central and Eastern Europe, is starting a social responsibility program that aims to facilitate a series of meetings betw

 Read Full article »
AI, the "performance engine" in Romania's business service industry

ABSL (the Association of Business Service Leaders in Romania) debated during its annual conference the future of the business service industry in our country and AI's influence in this sector's performances.

 Read Full article »
JLL Bucharest City Report: Industrial, logistics and offices were the drivers of the Romanian real estate development market

The industrial, logistics and office sectors in Bucharest were the drivers of the real estate development market in the first nine months of the year, while the retail sector recorded the lowest growth rate in

 Read Full article »
Microsoft extends partnership with Romania's Bitdefender to global level

Microsoft has extended its partnership with Romanian cybersecurity and anti-virus software company Bitdefender to a global level, Gabriela Matei, General Manager, Microsoft Romania announced at the 2017 Microso

 Read Full article »
Certent opens new office in Bucharest

Certent, Inc., a leading provider of software-as-a-service (SaaS) solutions for equity compensation and financial disclosure management today announced the opening of a new office in Bucharest, Romania.

 Read Full article »
Companies leased 45,000 sqm of office space in Q3 IT and outsourcing players – the main drivers of demand

The Bucharest office market saw a net take-up of close to 45,000 sqm in this year's third quarter. According to data from the real estate consultancy company Colliers International, the demand came mostly from

 Read Full article »
ABSL: The negative Impact of EO draft will lead to decrease of FDI and employment rate

ABSL Romania examined the emergency ordinance draft to amend the law no. 227/2015 regarding the Fiscal Code and concluded that the implementation of these measures will have a negative impact on Romania's inter

 Read Full article »
Farlei Kothe becomes EMEA vice president at Stefanini

In two years, he built a team of 200 people from scratch and made us 20 million US dollars revenues.. For the last nine years, he's been with us – first as the manager for our application development centre a

 Read Full article »
CTP acquired Phoenix Logistics Center for approximately 7 million Euro

CTP, the leading premium industrial parks developer and long-term manager in Romania and Central and Eastern Europe, registered the fastest development pace in 2017, since it entered the Romanian market.

 Read Full article »
Veeam's Hub in Bucharest exceeds 350 employees

Veeam® Software, the innovative provider of solutions that deliver Availability for the Always-On Enterprise, has passed the 350 staff milestone in its Bucharest, Romania, hub.

 Read Full article »
 
MOST RECENT VIDEO
 
 
MOST READ ARTICLES
» ROMANIAN OUTSOURCING AWARDS FOR EXCELL...
» ABSL: BRD First Tech challenge in Roma...
» Gartner: Romania moved into the first ...
» Molson Coors started to grow its busin...
» Vastint Romania celebrated the opening...
» Healthcare IT outsourcing market is ex...
» Roxana Tesiu appointed as the new Vice...
» Exclusive OT print issue: Genpact may ...
» Manpower:Romania has world's third hig...
» ManpowerGroup launches ManpowerGroup S...
 
EDITOR CHOICE
Societe Generale European Business Services support the IT education in Romania through a partnership with ACADEMY+PLUS

Societe Generale European Business Services (SG EBS), part of Societe Generale Group announces a partnership with ACADEMY+PLUS, a revolutionary coding school, tuition free, opened this year in Bucharest.

 Read Full article »
TELUS International Europe: The convergence of customer service and digital marketing/NewGen technologies: What does it mean for businesses?

Technology shapes the way we educate, communicate, conduct business and advance science, all while maintaining significant influence on the global economy. But the way we engage with technology is changing

 Read Full article »
Stay updated on People in Shared Services and Outsourcing Forum, October 19

Outsourcing Today organizes the third edition of People in Shared Services and Outsourcing Forum, on October 19, 2017 in Bucharest at Caro Hotel.

 Read Full article »
Preparing for the new future

Business shared services in Romania is by nature a flexible, mobile and diverse community and in this context, local markets develop their own particularities to address the global changes, to adjust to new dem

 Read Full article »
Latest News  
 
about us | newsletter | contact | members area
Copyright © 2015 by Diplomat Media Events Design by Diplomat Media Events