Analysts are not optimistic in spite of September retail increases

However, turnover in the retail segment dropped 4.4 percent in September from its August 2008 level.

Financial market analysts said that local demand will drop in the coming period. “We may see a slowdown in retail, due to the international financial crisis. We expect a drop in consumption and implicitly, in commerce, in sales. Moreover, I believe this slowdown could begin as early as October,” according to Liviu Voinea, General Manager of the Group of Applied Economics (GEA).

Eurostat, the European statistical bureau, which publishes data regarding retail in the 27 EU states, ranks Romania ranks first in the EU in terms of retail sales, for the fourth month in a row. Retail sales on the Romanian market soared by an annual 15 percent in September, indicates Eurostat.

In the European Union, commerce dropped. Retail sales declined 0.4 percent in September in the EU, and 1.6 percent in the euro-zone.