FX.co ★ Czech Retail Sales Growth Exceeds Forecast

Retail sales in the Czech Republic have seen a substantial increase in March, according to recent data from the Czech Statistical Office. Accelerating beyond expectations, this uptick was much greater than the increase recorded in the prior month.

Specifically, the retail sales (excluding motor vehicles and motorcycles) observed a calendar-adjusted year-on-year escalation of 6.1 percent in March. This is significantly higher than the 2.5 percent rise in February and also exceeds the projected increase of 2.7 percent.

Further analysis revealed that sales of non-food items experienced an upsurge of 7.7 percent on a yearly basis in March. Meanwhile, the sales of food, beverages, and tobacco also went up by 4.0 percent.

Statistics also confirmed a 6.7 percent growth in retail sales of automotive fuel via specialized stores, and a 4.8 percent boost in sales and repair services of motor vehicles and motorcycles.

Another notable development was the 14.9 percent leap in retail sales conducted through mail orders or online platforms.

On a month-on-month comparison, there was a 1.3 percent surge in retail sales from February to March.