PRAGUE, Jan 11 (Reuters) - Czech retail sales fell by 1.8
percent year-on-year in November, hurt by lower sales in the
automotive sector, statistics office data showed on Friday.
The headline figure missed analysts' forecasts for
Overall adjusted sales on a month-on-month basis fell 0.6
percent and by 3.5 percent year-on-year, the statistics bureau
The Czech economy has been shrinking since the middle of
2011 as government austerity hit consumption.
The central bank has cut interest rates to near zero and
said it would move to weaken the crown if it needs to ease
monetary conditions further.
(change in percent) Nov Oct Nov fcast
RETAIL SALES (y/y) -1.8 2.2 0.0
* For a TABLE with November data..............
DAVID MAREK, CHIEF ECONOMIST, PATRIA FINANCE
'The figures are bad across the spectrum. It proves that
recession in the Czech economy is deepening. Working-day
adjusted retails sales even fell by 3.5 percent.
'For the central bank it means that the need for further
monetary stimulus is growing, and in the case of the Czech
central bank it would be forex interventions.'
- The headline, unadjusted figure includes automotive and fuel
- Seasonally-adjusted sales of cars and repairs fell a real 0.8
percent month-on-month. Year-on-year, sales of cars and repairs
dropped 5.8 percent in November. Unadjusted automotive sales
fell 3.0 percent year-on-year.
- Seasonally-adjusted sales including fuels dropped by a real
0.6 percent month-on-month. Year-on-year sales, when adjusted
for working days, fell 2.4 percent. Unadjusted sales decreased
- December consumer inflation
- November industrial output figures
- Report on last Czech c.bank rate decision......
- For further details on November retail sales and past data,
Reuters 3000 Xtra users can click on the Czech Statistical
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- For Czech money markets data click on
- Czech money guide
- Czech benchmark state bond prices
- Czech forward money market rates
(Reporting by Mirka Krufova and Jason Hovet)
Keywords: CZECH RETAIL/
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