Retail / Increased by 3.9% in the last quarter of 2019
Retail sales rose 3.9% in the fourth quarter of last year. Instat reports that annual retail sales growth in the fourth quarter remained at the same level as in the previous quarter. Taken together, this indicates that the recent November earthquake does not appear to have had a dramatic impact on the performance of retail sales in the Albanian economy.
For the second consecutive quarter, the branch that recorded the highest sales growth was fuel, where sales rose 4.8% on an annualized basis. Excluding hydrocarbons, retail sales growth was somewhat lower, at 3.7%.
The main positive impact was the increase in sales of non-food products, with an annual growth of 4.4%, while sales of food products increased by 2.6%.
Retail sales are among the main indirect indicators of consumer performance.
For 2019, economic growth is estimated to have slowed sharply compared to 2018. However, retail sales show an upward trend in consumption, supported by increased employment, increased consumer confidence and expanded bank credit.
Private consumption is the main contributor to the creation of value added in the economy, with about 80% of the total.
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