Retail sales in Armenia increased 4.9 percent year-on-year in May 2019, easing from a 9 percent jump in the previous month. It was the smallest gain in retail trade since December. Considering the first five months of 2019, retail trade advanced 9.4 percent over a year ago. On a monthly basis, retail sales rose 9.2 percent, following a 5 percent fall in the previous month. Retail Sales YoY in Armenia averaged 3.87 percent from 2007 until 2019, reaching an all time high of 22.40 percent in November of 2017 and a record low of -14.20 percent in November of 2015.
Retail Sales YoY in Armenia is expected to be 8.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Retail Sales YoY in Armenia to stand at 3.90 in 12 months time. In the long-term, the Armenia Retail Sales YoY is projected to trend around 5.20 percent in 2020, according to our econometric models.