Cyprus retail sales still strong in September

Weaker growth in big ticket items

Retail sales growth was still strong in September according to the latest figures from the Statistical Service.

The total volume of retail sales rose by 8.1% compared with September 2007, faster than the 3.5% recorded in August.

The fastest growing subcategory was pharmaceuticals, cosmetics and toiletries, which rose by 20.5% compared with the same month of 2007.

Sales in the generic subcategory (other non-specialized store sales not including food, beverages and tobacco) were also strong, rising by 16.7% year on year.

However, in what might be a small sign of a coming slowdown, sales of the big ticket items (furniture, household goods and electrical appliances) were slower than average, rising by only 4.6% year on year, having decline by 9.8% in August.

In the period January-September 2008, retail sales volume rose by 9.4% compared with the same period of 2007.

Meanwhile, retail sales in value terms rose in September by 13.6% compared with September 2007.

Financial Mirror,December 14, 2008

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