Retail sales in Montenegro increased 5.6 percent year-on-year in March of 2019, slowing from a 6.1 percent rise in the prior month, as sales of food products went up at a slower pace (4.0 percent vs 5.2 percent in February). Meanwhile, non-food trade advanced faster (6.8 percent vs 6.1 percent). On a monthly basis, retail sales jumped 11 percent compared to a 1 percent rise in February. Retail Sales Yoy in Montenegro averaged 6.20 percent from 2008 until 2019, reaching an all time high of 43.06 percent in September of 2008 and a record low of -21.55 percent in September of 2009.
Retail Sales Yoy in Montenegro is expected to be 3.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Retail Sales Yoy in Montenegro to stand at 3.00 in 12 months time. In the long-term, the Montenegro Retail Sales YoY is projected to trend around 2.00 percent in 2020, according to our econometric models.