Retail sales decrease 20.4% yoy in 7M09

Retail trade turnover in Ukraine slid 20.4% yoy in 7M09, the State Statistics Committee reported yesterday. Total retail turnover during the period was UAH 123.8 bln. For the month of July, retail sales came to UAH 19.8 bln, down 21.5% yoy, more than June’s 20.9% yoy decline. At the same time, retail turnover jumped 7.8% mom in July. Andrii Parkhomenko: Retail trade, though down in year-on-year terms, showed month-on-month growth for the third consecutive month. We think that retail sales will not grow as fast as in July in the coming month and be quite sluggish until yearend, but we believe that the sector has already passed its trough.