Retail sales down 4.9% for November

The Czech Statistical Office has released the results of retail sales for the month of November, showing a 4.9% decrease year-on-year. The result is a 0.2 point decline from the preceding month. As in October, the slump was put down to decreased sales of motor vehicles and non-grocery goods. According to the Czech Press Agency, the result marks the largest drop in retail sales since early 2008, when adjusted by seasonal influences and the number of working days. The EU on average saw a 0.8% decline for the month.