Retail sales 3.3 percent lower in September year-on-year

05-11-2012

Retail sales in the country slid by 3.3 percent in September year-on-year, while in August they declined by 0.8 percent, the Czech Statistical Office has revealed. Consumers saved primarily on food, home items, medicine and cosmetics products the bureau reported. By contrast, spending was not curbed in the areas of clothing and footwear. Several surveys have suggested a drop in consumer spending related to fears over the economy and the government’s austerity measures including VAT hikes.