Cyprus retail sales slow in June

Retail sales growth slowed in June, according to initial estimates from the Statistical Service.
The provisional figures estimate that the turnover volume index of retail trade for June 2008 rose to 149.2, recording a rise of 4.6% compared with the same period of 2007. This is rather slower than the 11.9% and 14.1% growth rates recorded in April and May respectively.
For the period January-June 2008 the index is provisionally estimated to have an increased by 10.4% compared with the corresponding period of 2007.
Final figures for May show that the turnover volume index of retail trade for May reached 152.3 units.
For the period January-May 2008 the index recorded an increase of 11.8% compared with the corresponding period of 2007.
Meanwhile, the turnover value index for June rose by a provisional 9.8% over June 2007, compared with an increase of 15.6% and 18.8% in April and May respectively.