Ukraine retail sales accelerate to 5.6% growth in February

Ukraine retail sales accelerate to 5.6% growth in February
Ukraine retail sales accelerate to 5.6% growth in February as the economic recovery slowly gathers momentum / bne IntelliNews
By bne IntelliNews March 23, 2021

Ukraine’s retail turnover accelerated in February as the economic recovery slowly gathers momentum, the state statistics agency reported on March 23.

Ukrainian retail sales increased 4.6% year on year in 2M21, accelerating from a 3.5%% y/y surge in January, Ukraine’s State Statistics Service reported on March 22. In February, retail sales advanced 5.6% y/y, or 1.3% month on month.

Regionally, the highest retail growth in 2M21 occurred in Kyiv (11.9% y/y), Chernihiv (8.3% y/y) and Chernivtsi (7.8% y/y) regions. The largest declines were in Cherkasy (-2.4% y/y), Volyn (-1.9% y/y) and Kirovohrad (-1.7% y/y) regions.

“The February results for retail are disappointing,” Evgeniya Akhtyrko of Concorde Capital said in a note.” We would expect a much greater advance given no quarantine restrictions during the month and a relatively stable pandemic situation.  March retail results are not likely to be stellar, as quarantine restrictions are being reintroduced in the second half of the month. We expect consumer demand to stay strong in 2021, allowing retail sales to accelerate to 10% y/y (vs. 8.4% y/y growth in 2020).”

 

Related Content

Data

Dismiss