In May 2023, Croatia's retail trade turnover increased in real terms by 0.3% on the month and by 3% on the year, the national statistical office said on Friday.

In May, retail trade turnover increased for the second consecutive month, but at a slower rate than in April, when the annual increase was 4.2%.

In May, the retail trade turnover of food, beverages and tobacco increased by 3.7%, and the retail trade turnover of non-food products, except of automotive fuels and lubricants, increased by 1.1%.

In the first five months of 2023, the retail trade turnover increased by 1.6% in real terms compared to the same period of the previous year.

Since the retail trade turnover is the biggest component of GDP, its growth over two months points to the economy’s stability in the second quarter of the year. In Q1, GDP increased for the second consecutive quarter year on year, by 2.8%.