The Institute of Statistics has issued a report with numbers on the performance of retail sales for the first quarter of 2015, which show a continuous increase of retail sales by 4.7%, compared to the same period of 2014.
These figures show an improvement of the domestic demand and an economic revival in the past months, given that the retail trade (except the trade of hydrocarbons) increased by 9.5% during 2015. In turn, the index of retail sales regarding hydrocarbons decreased by 2.6% in an annual basis, according to the Institute of Statistics report.
Retail businesses have sold 28.4% more pharmaceutical products, cosmetics and personal hygiene products during the first quarter of 2015, 25.6% more food items and beverages in non specialized trade units and 12.8% more clothes and shoes.
According to experts, the government is trying to reduce the public expenses and in this situation the improvement of the domestic demand will be a crucial factor which will define the economic revival of the country in the upcoming years. The private consumption comprises circa 80% of the Gross Domestic Product.
News source/photo credits: Scan TV