Cyprus retail decline moderates in June

Preliminary retail trade data for June suggest that the decline in retail sales moderated in June, with volumes falling by 2.2% compared with the year earlier, after a fall of 3.4 in May and 7.1 in April.
Sales of food products continue to outperform, rising by 11.6% year on year in June, with food sales in specialist stores (14.7%) rising faster than sales in non-specialist stores (11.1%).
By contrast, non-food sales excluding fuel dropped by 9.6% over the year earlier, with electrical goods and furniture faring the worst, dropping by 22.7%.
In the first six months of the year, retail trade volumes are provisionally estimated to have fallen by 2.8% compared with the same period of 2011, with food items up 5.9% and non-food items ex fuel down 8.0%.
The value of retail trade in the same period is provisionally estimated to have fallen by 2.4%.
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