Bulgaria Retail Sales Growth Slows Down M/M but Picks Up Y/Y in August

The volume of retail trade in Bulgaria increased in August for a fourth month running, albeit at a slower pace, Eurostat figures showed on Friday.

According to data released by the European Union's statistical office, Bulgaria's retail sales adjusted for the number of working days increased by 0.4% month-on-month in August, following monthly growth of  0.7%, 0.9% and 1.4% recorded in July, June and May, respectively.

 The monthly increase for Bulgaria in August compared to a 1.2% rise in the euro area  and a 1.4% growth in the EU.

In a year-on-year comparison, the increase in the retail sales index in Bulgaria in August beat growth rates in both the euro area and the EU.

While retail sales picked up by 1.9% in the euro area and by 2.5% in the EU28 in August compared to the same month of 2013, in Bulgaria they expanded by 4.5%, accelerating from increases of 4.1% in July, 2.3% in June and 1.4% in May.