Insider Economy Retail trade in Cyprus shows signs of recovery

Retail trade in Cyprus shows signs of recovery

Retail trade in Cyprus excluding motor vehicles showed signs of recovery reflecting the increase of economic recovery following the lifting of restrictions to combat the spread of the coronavirus pandemic.

According to preliminary data published by the CyStat, the Turnover Volume Index of Retail Trade rose to 130.7 units marking an increase of 7.5% compared to the previous month in the third consecutive increase since March where a two-month lockdown was enforced.

Compared to July 2019, the index marked a reduction of 0.5% while for the period of January – July the index showed a reduction of 2.7% compared with the respective period of last year.

Additionally, the Turnover Value Index of Retail Trade amounted to 121.7 units in July marking a 6% increase over the previous month.

Compared to July 2019, the Value Index declined by 2.7%.

For the period of January – July 2020 the index marked a reduction of 4.3% compared to the same period of last year, CyStat added.

(CNA)

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