In November the largest decrease in retail trade of the year

The decrease in retail sales of goods, which had begun in March 2008 compared to the corresponding month of the previous year, remained within 3–7% till October. In November the retail sales of goods decreased to the lowest level of the year. 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 showed a continuous falling trend in November, too.

In November, the retail sales of goods of retail trade enterprises were 4.3 billion kroons. 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 18% compared to the same period of the previous year. Compared to November 2007, the retail sales of goods decreased in all economic activities. The retail sales in stores selling household goods and appliances, hardware and building materials decreased the most (26%). The sales decrease of these stores was influenced by the low level in real estate and construction sectors.

Retail sales in grocery stores have been rather stable in September-October 2008. In these stores, the retail sales decreased 1% compared to November of the previous year.

Compared to October, the retail sales in retail trade enterprises decreased 8% at constant prices, which is characteristic of the period prior to Christmas marketing in December.

In November the revenues from sales of retail trade enterprises were 5.1 billion kroons, out of which the retail sales of goods accounted for about 85%. Compared to November 2007, the revenues from sales decreased 6% at current prices. Compared to October 2008, this indicator decreased 7%.

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