The economy recorded a nominal weekly average decline of 1.7% in retail sales during January

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If supermarket figures are not considered, the indicator shows a decline of 6.2%.

According to the data from the National Chamber of Commerce (CNC), weekly retail sales generally saw a contraction in January.

Sales in the region are presented, with updated data from the 22nd to the 28th of last month. Weekly average reduction of nominal 1.7% when compared to the same weeks last year.

By not considering supermarkets, there has been a decline 6.2%Slightly below average in December.

Retail sales saw a decline in weekly average during January

There was an average nominal decrease of 10.9% in specialty stores, a 3.5% decrease in non-specialty stores, and a 3.5% nominal annual weekly increase in supermarkets.

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As detailed by CNC, January “began the first week with a strong nominal annual decline of 12.4%, which is largely due to the calendar effect, given the inevitable holiday on Monday, January 1: i.e., we’re comparing a week with 6 days of sales versus 2023, where it was a full week.

“Then, in the second week, from Monday the 8th to Sunday the 14th, retail sales saw practically no annual growth (0.4%). A 1.1% nominal annual growth was recorded in the third week, and ultimately, a 0.9% nominal margin contraction was evident in the last week of January,” he said.

For this reason, the average annual reduction in the weeks of January in real terms will be 4.7% (assuming inflation of 3%) and closer to 9.2% without including supermarkets.

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In more detail, the first week of January saw a massive decline of 20.6% compared to the last week of 2023.

After this, sales increased in the second week, and it closed with a gain of 4.9%. A weekly decline of 2.1% was recorded in the third week and a slight increase of 0.6% in the last week.

Graph Of Variations Compared To Last Week

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