Malta retail sales drop among sharpest in EU
Retail sales across the 16-nation eurozone fell by 0.4 percent in August following a modest 0.1 percent rise in July, European Union figures showed today.
In the wider, 27-nation EU, which includes non-euro members Britain and Poland, retail sales fell by 0.3 percent in August following a 0.1 percent rise in July, the Eurostat data agency said.
Romania posted the biggest rise at 5.2 percent, followed by increases of 1.3 percent in Lithuania and 1.1 percent in Spain.
The countries with the biggest falls were Austria, with a drop of 3.6 percent, Slovenia, 2.6 percent, and Malta, 2.1 percent.
Sales in food, drinks and tobacco fell by 0.7 percent across the eurozone while non-food products excluding fuel grew by 0.3 percent.
On a 12-month comparison, the August sales figures rose by 0.6 percent in the eurozone and 0.8 percent in the entire EU.
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CA Miller
Oct 6th 2010, 03:02
Higher prices should lead to higher sales amounts since the same amount of goods now cost more. Therefore the drop in retail goods sold in Malta is higher than the 2.1%
Paul Caruana
Oct 5th 2010, 19:01
Since time immemorial, Maltese consumers grumble about the high prices AND bad service given by local retailers. In this age of increased links to the rest of Europe, not to mention online shopping....well, the chickens are coming home to roost!
Local retailers had better get their act together regarding the above complaints, and quickly.
K.Anastasi
Oct 5th 2010, 16:11
Don't forget the high price of goods...and the competition from internet.
Phil Press
Oct 5th 2010, 16:41
Ditto,plus the lack of after sales service ?.
R. Mallia
Oct 5th 2010, 16:00
Well, what a surprise (not)! When you deduct the home loan, the electricity and water bill, the groceries and the multitude of expenses for daily living from our miserable wages, what 's left to spend?
patrick zammit
Oct 5th 2010, 20:02
R Mallia
Our wages won't be miserable much longer, there is a wage increase of over a Euro in the pipleine!