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Portugal retail sales growth slows in July

Portugal retail sales
Europe   The indexes were up in Portugal

Year-on-year growth in retail sales in Portugal slowed to 3.9 percent in July, down from 5.1 percent in June, as sales rose 0.6 percent on the month, the National Statistics Institute said.

The indexes for employment, remuneration and hours worked were up 3.5 percent, 5.4 percent and 1.3 percent respectively on the year.

In June these three indexes had been up 3.6 percent, 6.5 percent and 1.2 percent respectively on a year earlier.

The slowdown in retail sales growth was mitigated by sales of non-food items, which accelerated to 6.4 percent in July from 6.1 percent in June. Sales of food items slowed to 0.9 percent from 2.9 percent.

In a separate announcement, the Portuguese Association of Distribution Companies (APED) said that retail sales in the first half were up 3.8 percent on the same period of last year, at €8.967 billion.

Retail food sales were up 3.3 percent at €5.240 billion, while sales of non-food items were up 4.5 percent at €3.727 billion.

Portugal’s economy has been recovering strongly in recent months as the effects of last year’s restoration of public sector salaries feeds through, while exports have continued to grow.


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