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Romania posts most significant retail trade growth in EU in Nov.

Romania recorded the largest annual growth of the retail trade in the 27 European Union members for the sixth consecutive month in November, but the growth pace was below 10% (at 6.8%), show preliminary figures released by the European Office of Statistics (Eurostat) on Friday (Jan 9).
Even though Romania is the EU leader in this respect, the Eurostat figures show a tendency to significant slowdown of the increase pace of the retail trade volume in the last months. While in June 2008 Romania recorded an annual retail trade rise of 23.6%, the pace slowed down in July to 18.5%, with the trend having kept on in August as well at 16.8%, at 13% in September and at 8.8% in October.

In November, Romania was followed by Poland (6.2%) and Slovenia (5.4%). In the EU 27, the retail trade rose in seven member states, fell in 11 and remained unchanged in Sweden. The largest decreases were observed in Latvia (-15.1%), Estonia (-9.3%) and Spain (-7.8%).
In November 2008 compared to November 2007, retail trade fell by 1.5% in the euro area (EA 15) and by 0.2% in EU 27.
The Eurostat figures show that in November 2008 compared to October 2008 Romania was among the EU 27 member states that saw their retail trade shrink. The largest drop was recorded in Portugal (-1.4%), Belgium and Estonia (-1.1%) and Lituania and Slovakia on the third spot with minus 1% each.
In November compared to October the retail trade volume fell in nine member states and rose in ten. Overall, the retail trade volume rose by 0.6% in EA 15 and by 0.3% in EU 27, after having fallen by 1% in EA 15 and by 0.5% in EU 27 in November.

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