From a growth rate of 5.2% after the first 6 months, the volume of trade sales slowed to 4.8%, according to data sent on Monday by Statistics. This indicator is important because it very well approximates the dynamics of private consumption, the main component of GDP.

The slowdown is related to the decline in sales of non-food products (slowed down from 6% in June to 5.2% in July) and fuel sales (due to lower prices of gasoline and diesel fuel), which reduced their dynamics from 9.6%. in June to 8.5% a month later.

What the INS press release says:

• The volume of retail trade turnover (excluding trade in motor vehicles and motorcycles) in July 2022 increased compared to June 2022 both on a gross basis by 6.4% and on a day-adjusted and seasonally adjusted basis by 0.2% .

• Compared to July 2021, the volume of retail trade (excluding trade in motor vehicles and motorcycles) in July 2022 increased by 2.5% both in the original series and in the series adjusted for the number of working days and seasonality by 3.4% .

• In the period 1.I-31.VII.2022, the volume of retail trade turnover (except trade in motor vehicles and motorcycles) increased compared to the period 1.I-31.VII.2021 as a gross number by 4.8%, and by series adjusted for the number of working days and seasonality by 6.2%.