Retail sales in Croatia declined by 2.0 percent year-on-year in May of 2019, after a 4.8 percent gain in the previous month and marking the first fall since August 2014. Sales dropped for both food (-0.5 percent vs 8.4 percent in April) and non-food products (-1.3 percent vs 1.4 percent) and other activities (-2.9 percent vs 3.3 percent). On a monthly basis, retail sales fell 4.6 percent, after a flat reading in the previous month. Retail Sales YoY in Croatia averaged 3.34 percent from 2001 until 2019, reaching an all time high of 20.60 percent in August of 2001 and a record low of -15.20 percent in May of 2009.
Retail Sales YoY in Croatia is expected to be 4.80 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 Croatia to stand at 4.10 in 12 months time. In the long-term, the Croatia Retail Sales YoY is projected to trend around 3.20 percent in 2020, according to our econometric models.