Cyprus auto turnover flat in real terms

Turnover in the Cypriot automotive sector was more or less flat in real terms in the first half of 2008.
The index of turnover value for the sale and repair of motor vehicles and retail sale of automotive fuel rose by 5.0% compared with the corresponding period of 2007.
However, consumer price inflation in the same period was 4.8%, meaning that the increase after inflation was only around 0.2%.
In June alone, turnover decreased by 3.2% compared with the previous month.
Wholesale and retail trade fared much better. In January-June 2008, the index of turnover value for wholesale trade and commission trade recorded an increase of 19.1% compared with the corresponding period of 2007, thus rising in real terms by approximately 14.3%.
In June alone this index increased by 0.8% compared with the previous month.