Retail sales in Croatia in September 2018 increased by 3.9 percent compared to September 2017, which marked a year-on-year increase for the 49th month in a row, the state statistics bureau reported on Thursday.

Retail sales went up by 0.4 percent from August 2018, when they rose by 3.1 percent on the year.

This is the first time on record that retail spending has grown for the 49th consecutive month, continuing the upwards trend which began in September 2014.

Over the first nine months of 2018, retail sales increased by 3.6 percent in real terms compared to the same period last year.

This shows that the national economy continues to be based predominantly on services related to commerce and tourism, Raiffeisenbank Austria (RBA) analysts said, commenting on the report.

RBA analysts said they expected retail sale growth to continue at solid rates in the coming months, owing to very good post-season tourism results, declining unemployment, a mild rise in employment and higher consumer confidence.

If the current real growth dynamic continues, retail spending could reach the levels from 2008 next year, and surpass them in 2020.

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