Czech spending falls by more than 3 percent in October

New figures suggest that retail sales fell by 3.3 percent in October. The figures quoted by the daily Mladá Fronta Dnes, strongly contrast with a 6.1 percent growth in sales the previous month. The figures represent the third monthly drop in 2008 and are causing alarm bells to ring among economists. Meanwhile, reduced prices by many outlets as well as increased Christmas-time spending will, according to analysts, only slightly mitigate the overall trend. Car sales are registering the greatest dip in sales, but small businesses such as restaurants are also registering a dip in visitor numbers. However, according to Czech Statistics Office figures, sales are up in a number of specialized fields including electronics, furniture and other home-related items.