18 Mar 2019, Radoslav Yordanov, EMIS Editor
Colombia’s retail sales grow 3% y/y in January
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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