Retail sales in the Czech Republic have fallen for seven consecutive months, with a decline of 8.7% in November. This is a significant decrease compared to the same period last year and is a cause for concern for the country’s economy. The decline in retail sales can be attributed to the impact of the ongoing COVID-19 pandemic and the measures implemented to curb its spread, such as lockdowns and restrictions on travel.

The decline in retail sales has been felt across all sectors, with the largest decrease observed in the clothing and footwear sector, which saw a decline of 27.4%. Other sectors that have been affected include the automotive sector, which saw a decline of 14.6%, and the furniture and household equipment sector, which saw a decline of 12.5%.

The decline in retail sales is also affecting employment in the retail sector, with many companies downsizing and laying off employees. According to the Czech Statistical Office, the number of people employed in the retail sector has decreased by 6.2% compared to the same period last year.

The Czech government has implemented measures to support the economy and businesses affected by the pandemic, such as financial aid and subsidies. However, the decline in retail sales highlights the need for further measures to support the retail sector and ensure the stability of the economy.

In summary, Retail sales in the Czech Republic have fallen for seven consecutive months, with a decline of 8.7% in November. The decline in retail sales can be attributed to the impact of the ongoing COVID-19 pandemic and the measures implemented to curb its spread. The decline in retail sales has affected all sectors and employment in the retail sector has also decreased. The Czech government has implemented measures to support the economy but the decline in retail sales highlights the need for further measures to support the retail sector and ensure the stability of the economy.

Article by Prague Forum