Romania’s retail sales index increased by 12.0% year-on-year (YoY) in June when the low base effects were milder compared to the previous months.

Over the past 24 months, the sales index has advanced by an annualised rate of 7.4%.

The two-year metric, which filters out the effects of the lockdown, reveals robust (+11.4% annualised) growth of the non-food items and a slower (+5.2% annualised) advance of the food sales.

Even the sales of fuels advanced by 3.6% per annum over the past 24 months (and by 17.6% YoY) - but in this case, the demand has suffered a longer-term step correction reflecting the drop in mobility caused by the work from home.

Speaking of the quarterly data, the seasonally adjusted retail sales advanced by 5.8% quarter-on-quarter (QoQ) in Q2, after the 0.8% QoQ decline in Q1.

Non-food sales soared by 6.0% QoQ in Q2, nearly double the 3.1% QoQ advance of the food sales. Fuel sales edged down by 1.4% QoQ.

The broader picture shows the non-food sales continuing their advance at the same level, nearly untouched by the crisis. The food sales stagnate or are slightly rising, and the fuel sales suffered a decline after which they resumed growth - from a lower level, though. 

(Photo: Wavebreakmedia Ltd. / Dreamstime)

iulian@romania-insider.com