Turnover growth retail slackening

• Turnover growth second quarter pegged at 2.3 percent
• Lowest turnover growth rate since  4th quarter of 2005
• Turnover growth in non-food sector marginal

Turnover growth in retail trade was 2.3 percent in the second quarter of 2008 relative to the same period last year. This is the lowest growth rate since the fourth quarter of 2005. Turnover growth in the second quarter is almost entirely attributable to higher prices, as is shown by the latest figures published by Statistics Netherlands.

The food, drinks and tobacco branch realised a turnover growth of more than 5 percent in the second quarter. This is mainly due to a growth by more than 7 percent in the supermarket sector. Specialised food shops faced a loss of turnover by over 4 percent.

Turnover growth in the non-food branch was practically zero in the second quarter. Textile supermarkets saw turnover drop by 2.6 percent. Household appliances shops achieved a 2.4 percent turnover growth.

Declining turnover in retail trade was predominantly caused by a substantial sales drop in June by nearly 4 percent relative to June 2007. The shopping day pattern in June had a major downward effect on sales. After correction for shopping days, there was a marginal turnover growth, but turnover volume declined somewhat.