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18 Mar 2019, Radoslav Yordanov, EMIS Editor

Colombia’s retail sales grow 3% y/y in January

Retail sales in Colombia rose 3% year-on-year in January, slowing 4% compared to the previous month, CEEMarketWatch informed citing figures released by the statistics office DANE.

The deceleration is mainly explained by the weak fuels and vehicles sales. In this regard, car and motorcycles sales increased only 4.1% y/y, sharply slowing compared to the 46.3% y/y and 25% y/y hikes scored in November and December, respectively.

Excluding this component, the retail sector expanded 4.6% y/y during the month of reference, which still shows a deterioration of 0.6%. Regarding sector’s employment, it continues to grow modestly to 1% y/y in January, while real wages improved 5.1% y/y.

Overall, retail sales deceleration could be considered disappointing, as it contrasts with the ongoing recovery of the Colombian economy, CEEMarketWatch commented.

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