September retail sales shrink 7.3% on year: DANE

Colombian retail sales fell 7.3% in September from the same month last year, according to official data released Wednesday.

The National Statistics Department, known as DANE, said sales of cars and motorbikes fell 26%, while sales of books, newspapers and office supplies fell 10% in September, compared with the same month in 2008.

The sales contraction is much bigger than the 1.6% decline expected by local brokerage Interbolsa.

The retail sales decline follows a 0.9% on-year drop in August, and a 3.7% fall in July.

In the first nine months of the year, retail sales fell 4.6%, compared with the same period a year earlier.

DANE said employment in the retail sector fell 3.7% in September from the same month last year. Employment in the retail sector at the end of 2008 had increased 3.3% from the end of 2007.

Related posts

Colombia’s truckers agree to lift blockades after deal with government

Truckers shut down parts of Colombia over fuel price hikes

Colombia’s bankers agree to invest additional $13.6B in economic development