Sales of chain retailing in Bulgaria reported strong monthly drop in May. As a result, our party ordered the Member with the strong decline in retail sales among all 27 states of the European Union.
The index, which monitors the value of retail sales in the country decreased by 1.1 percent on a monthly basis in May. A strong monthly drop recorded retail only in Lithuania, Austria and Slovakia, the data suggest the European Statistical Office. The strong decrease may be due to the large number of holidays in early May.
However, this is the sixth consecutive monthly decline in retail sales in the country. As a result, they are 10.4 percent less than the same month last year. This ranks Bulgaria in sixth place among all reduction in the EU.
This may zagatva that the crisis forced the Bulgarian households to limit their spending at a faster rate than consumers in most countries in the European Union. In April, retail sales in Bulgaria decreased by 0.9% monthly and 9.3% on an annual basis.
For all EU retail sales decreased by 0.5% monthly and 3.1% on an annual basis in May. Purchases of food products decreased by 0.1 percent for the month and 1.6 percent for the year. Costs for non-food products such as clothing and electrical equipment decreased by 0.7% monthly and 2.9% on an annual basis.
Retail sales in the euro fell to its line more strongly than expected in May and celebrated the fifth decline in the last six months. The index of retail sales decreased by 0.4% monthly and 3.3% on an annual basis in May.
Market analysts estimated monthly decrease of 0.1 percent for the year and decreased by 2.7%. In April, the retail trade in the euro svi by 2.3 percent on an annual basis, but reported growth of 0.2 percent for the month.
Retail sales in the biggest European economy, Germany increased by 0.4 percent on a monthly basis and limited to its annual decline to 0.8 percent. In April, retail trade in Germany rose by 0.5 percent for the month and 0.1 percent for the year.