| M | T | W | T | F | S | S |
|---|---|---|---|---|---|---|
| 30 | 1 | 2 | 3 | 4 | 5 | 6 |
| 7 | 8 | 9 | 10 | 11 | 12 | 13 |
| 14 | 15 | 16 | 17 | 18 | 19 | 20 |
| 21 | 22 | 23 | 24 | 25 | 26 | 27 |
| 28 | 29 | 30 | 31 | 1 | 2 | 3 |
Today
Videos
Polls
RSS Feed Business01. 09. 10. - 13:00
Retail trade up first time in two years
Croatian Times
Retail trade was up slightly in July after two years of continuous fall thanks primarily to the tourist season, data from the Central Bureau of Statistics (DZS) shows.
Retail sales grew one per cent in July in real terms – not a significant increase, but a plus nonetheless, the daily Jutarnji List writes.
Hypo Bank analyst Hrvoje Stojic believes that part of the reason for the positive shift is the good psychological effect following the elimination of the lower crisis tax rate earlier this summer. Consumption increased during the tourist season, but the July statistics are also helped by the low base for comparison as last year’s month registered a 14.5 per cent drop in retail sales.
Analysts predict that August will also have positive results and that the "summer" quarter will have an overall good effect on the economy as a whole. Slight GDP growth is expected.
The autumn, however, is expected to bring a growth in unemployment as seasonal work ends, potentially having negative effects on GDP. Raiffeinsen Bank analysts warn that retail trade recovery will be limited due to these negative labour market movements that will reflect on citizen consumerism. "Without the recovery of that segment, real recovery of retail trade cannot be expected regardless of the short-term positive influences of crisis tax elimination or the tourist spending," they say.
The GDP could fall 1.5 per cent on a yearly basis, but there is a consensus that 2011 will bring a 1.5 per cent growth. Retail trade – expected to have an annual drop of 2.5 per cent this year – could grow one per cent in 2011, the daily Jutarnji List writes.
Your comment to this article :
(will be approved by an editor before going online)
Tag cloud Raiffeinsen continuous retail Jutarnji positive recovery effect sales having Bank negative elimination analyst Retail growth season slightly crisis Statistics tourist
Croatia at Chicago NATO summit
Croatian Prime Minister Zoran Milanovic, Minister of Foreign and European Affairs Vesna Pusic and Defence Minister Ante Kotromanovic, are representing Croatia at the NATO Summit in Chicago which opened on Sunday.
Australians ready to invest millions in Croatia
Australia's biggest investment bank, Macquarie Group, is interested to invest 1.3 billion Euros in Croatia, through projects renovating Croatian schools and other government buildings, reported website Tportal.
Croatian Festival of One Minute Films set to start
The 20th Croatian Festival of One Minute Films - CROMINUTE will take place from 23 - 25 May in Pozega (Pozega-Slavonia County).
Russian Chicken Tycoon Buys Ivanisevic Villa in Split
After five years on the real estate market, former Croatian world tennis ace Goran Ivanisevic's villa in elite suburb of Meje in the Dalamtian city of Split has finally been sold for an unknown price, reports 24sata.
Foreign media recommend best Croatian islands
Foreign media have once again praised the beauty of Croatia and advised its readers to chose Croatia as a tourist destination. This time its internet portal Argophilia.com, advising its readers to spend the summer in Croatia and particularly on the Croatian islands, reports website Tportal.
Adria Air Race 2012 to be held in Zagreb
Lake Jarun in the Croatian capital Zagreb will be host to this year's international acrobatic race Adria Air Race 2012, which is to be held on 9 June, reported portal dalje.com.
Dubrovnik aims to attract Chinese tourists
A Chinese delegation headed by President of the Standing Committee of China's Congress,Wu Bangguo visited the southern Dalmatian city of Dubrovnik yesterday (Sun).
Dubrovnik aims to attract Chinese tourists
A Chinese delegation headed by President of the Standing Committee of China's Congress,Wu Bangguo visited the southern Dalmatian city of Dubrovnik yesterday (Sun).
Croatian women outliving men
Croatian women are outliving their male counterparts by more than six years according to recent life expectancy data released. The life expectancy for women born in 2010 in Croatia is 79.9 years, which puts them in 25th place on the list of 30 European countries.
Croatian Tourist Promo Film wins in Warsaw
The Croatian Tourist Board (HTZ) has won first prize in the music promotional video category at the 7th World Tourism Film Festival in Warsaw, Poland for its video titled "Ode to Joy", reports daily newspaper Vecernji list.
The most popular stories –
last 7 days
