In September the downward trend of retail sales continued

A downward trend in the retail sales of goods of retail trade enterprises which started last year continued also in September of this year. High inflation, melting-down economy and the resulting decline in consumer confidence contributed to this trend. The confidence indicators reflected in the consumer survey and retail trade survey organised by the Estonian Institute of Economic Research show a continuous falling trend, too.

For the first time, retail sales were negative in March of this year compared to the same month of the previous year. This trend continued in September, too. In September, the retail sales of goods of retail trade enterprises were 4.5 billion kroons, which at constant prices was 8% less than at the same time a year ago. The decrease in the retail sales of goods was most influenced by the stores selling manufactured goods. In these stores the retail sales of goods decreased 12% compared to the same period of the previous year. Compared to September of the previous year, the retail sales of goods decreased in most economic activities, except mail order sale and retail sales of pharmaceutical goods and cosmetics. The retail sales in non-specialized stores with industrial goods predominating and the retail sales of stores selling household goods and appliances, hardware and building materials decreased the most.

Retail sales in grocery stores have been rather stable during the recent months. In these stores, the retail sales decreased 3% compared to September of the previous year. As before, the decrease in sales was influenced by a growth in the prices of food products and the resulting decline in consumption.

In September compared to August, the retail sales of goods in retail trade enterprises decreased 7% at constant prices.

In September the revenues from sales of retail trade enterprises were 5.3 billion kroons, out of which retail sales of goods accounted for about 85%. Compared to September of the previous year, the revenues from sales decreased by 1% at current prices. Compared to the previous month, this indicator decreased 6%.

Retail sales volume index of retail trade enterprises and its trend,
January 2000 – September 2008 (corresponding month of previous year = 100)