The turnover in the retail trade, which is considered the most important indicator of consumption, advanced by 11.7% as a gross series in July, compared to the same period in 2015.

The growth pace slowed down compared to the previous months, the National Statistics Institute (INS) data shows.

The increase was supported by the sales of fuel and non-food goods. The food sales growth significantly slowed down after the effect of VAT cut on food, which took place in June 2015, dissipated. Food sales went up by 9.9% compared to July 2015 whereas non-food sales were up 13.4% and fuel sales increased by 11.5%.

The highest growth pace in the last months was recorded in February this year, when the retail trade turnover increased by 21.8% compared to February 2015.

In the first seven months of this year, the retail trade turnover rose by 16.9% compared to the same period last year, as food sales were up 21.7%.

editor@romania-insider.com