In February the decrease in retail sales accelerated

The decrease in retail sales of goods, which had begun in March 2008 compared to the corresponding month of the previous year, remained within 1–10% till January of this year. But in February the retail sales decreased to the lowest level so far. The melting-down economy and the resulting decline in consumer confidence contributed to this trend. The confidence indicators reflected in the consumer survey organized by the Estonian Institute of Economic Research also showed a continuous falling trend in February.

In February, the retail sales of goods of retail trade enterprises were 4.1 billion kroons. Compared to February 2008, the retail sales of goods decreased in most economic activities. The decrease in retail sales was most influenced by the stores selling manufactured goods, where retail sales decreased 27% compared to the same month of the previous year. The greatest decrease was recorded in the retail sales of other specialized stores and non-specialized stores as well as stores selling household goods and appliances, hardware and building materials.

Retail sales in grocery stores decreased by one tenth compared to February of the previous year. Consumers are continuously hesitant about the future and have started to restrict their expenditure on food ever more due to that.

Compared to January, the retail sales of goods in retail trade enterprises decreased by 7% at constant prices. According to the seasonally and calendar-based adjustments of data, the retail sales decreased 2%.

In February the revenues from the sales of retail trade enterprises were 4.9 billion kroons, out of which retail sales of goods accounted for 85%. Compared to February of the previous year, the revenues from sales decreased 21% at current prices. Compared to the previous month, this indicator decreased 7%.

Retail sales volume index of retail trade enterprises and its trend,
January 2002 – February 2009 (corresponding month of previous year = 100)