19/11/2004 14:17
The volume of the retail trade in August 2004 recorded a drop once again, accompanied by an increase in the value of the turnover due to inflation. According to CYSTAT data released on Friday, the volume of the retail trade dropped 3.1% to 109.8 points compared 113.4 points in the corresponding month of 2003. The value of the turnover inched up 0.4% to 122.4 points against 121.9 points in the August 2003.
For January-August, the total volume of the turnover recorded an increase of 2.1% to 106.8 points, while the value of the retail trade increased 4.8% to 116 points.
Supermarket Association Executive Secretary, Andreas Hadjiadamou told StockWatch that the downturn in the volume of sales is attributable to the drop in tourist arrivals and income, as well as the reservations on behalf of the consumers due to the increased energy cost. Mr. Hadjiadamou said that consumer demand has improved in November.
For January-August, the total volume of the turnover recorded an increase of 2.1% to 106.8 points, while the value of the retail trade increased 4.8% to 116 points.
Supermarket Association Executive Secretary, Andreas Hadjiadamou told StockWatch that the downturn in the volume of sales is attributable to the drop in tourist arrivals and income, as well as the reservations on behalf of the consumers due to the increased energy cost. Mr. Hadjiadamou said that consumer demand has improved in November.
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