Cyprus retail sales accelerate in May

Retail sales growth accelerated in May, according to provisional data, rising by 5.5% year on year in volume terms, according to provisional data from the Statistical Service.

Revised data for April reported that the turnover volume index of retail trade in April 2007 reached 125.9, which was 3.2% higher than the same period of 2006, although lower than in March.

Retail sales in January-April 2007 rose by 6.1% over the corresponding period of 2006, while the provisional data for May suggest an increase of 6.0% in Jan-May.

Leading the pack has been growth in sales of pharmaceuticals, cosmetics and toiletries, up by a provisional 11.4% year on year in the first five months.

Sales of furniture and household goods have also been strong, at 10.1% in the same period.