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Croats Spending Less

CroatiaRetail trade is down on both a monthly and year-on-year level in Croatia, according to the latest data from the Central Bureau of Statistics…

Compared to July 2013, turn over at retail stores in was down in real terms by 2% (or 2.4% in nominal terms), the biggest drop since March last year. Retail trade was also down on a monthly level – in real terms by 1.7%, and nominally by 1.2%. In the first seven months of this year retail trade was down 0.8% compared with the same period last year.

“If adverse trends continue in the labour market, high consumer pessimism will continue to negatively contribute to personal consumption, therefore the assessment of stagnation in retail trade in 2014 remains,” analysts said.

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