Bulgaria's retail sales drop 2.8% Y/Y in July
Bulgarian households trimmed consumption of all types of products in July, excluding medicines and cosmetics, the National Statistics Institute (NSI) said on September 8 2011.Overall, the country's retail trade turnover was 2.8 per cent lower in July than a year earlier. In monthly terms, retail sales also recorded a decline, albeit at a slower pace.Household appliances and furniture saw the steepest decline in retail sales in annual terms in July, at 8.2 per cent. According to the report, households set aside money for renovating their homes as the last resort.Retail trade in clothing and footwear, as well as sales of computers and handsets, also recorded a drop. In the first four months of the year, however, consumption of these products had been on the increase.Despite the holiday season, Bulgarians trimmed spending on fuel. Food, beverages and cigarettes saw the smallest decline in retail sales, meaning that households spent mainly on essential goods and postponed major purchases.
/Source: Sofia Echo/