In May, the Czech Republic experienced a more significant slowdown in retail sales growth than anticipated, as reported by the Czech Statistical Office on Thursday.
Adjusted for the calendar, retail sales—excluding motor vehicles and motorcycles—grew by 4.4% year-on-year in May, down from a 5.7% increase in April and falling short of the projected 5.3% rise.
The growth rate for non-food product sales slowed significantly to 5.1% in May from 7.6% in the prior month. In contrast, sales of food, beverages, and tobacco accelerated to a 4.2% increase.
Sales of automotive fuel in specialized stores grew by 2.2%, while sales and repairs of motor vehicles and motorcycles saw a 2.0% uptick.
Furthermore, data indicated a robust 14.5% growth in retail sales through mail orders or the internet.
On a month-to-month basis, retail sales experienced a slight decline of 0.1%.