Czech Republic Sees Service Industry Sales Decline Due To COVID-19
Sales in the service industry in the Czech Republic saw a 4.3% year-on-year decline in the first quarter of 2020, according to data from SOCR ČR, the Czech commerce and tourism confederation.
On a seasonally adjusted basis, sales decreased by 3.3% at constant prices.
Sales were impacted due to the closure and limited operations of several establishments in March to prevent the spread of the coronavirus, the study noted.
Real estate sales declined by 0.8% year-on-year during this period, while real estate rental decreased by 0.2%.
Sales in accommodation, food and beverage service activities decreased by 14.8% in this period, the report said.
In the transport and storage segment, sales dropped by 5.8%, with air and water transport seeing double-digit declines of 28.6% and 25.2% respectively.
As a result, storage and ancillary activities in transport also witnessed a drop in sales.
However, postal and courier services saw a 10.6% growth in revenue in this period, the report added.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.