- Cyprus retail sales volume declined at a slower pace in February, preliminary data from the statistical office showed Friday.

Retail sales volume dropped 4.8 percent month-on-month, following a 31 percent slump in January. In January, sales volume grew 2.2 percent from the year-ago period. During the January-February period, retail sales volume rose 2.6 percent from last year.

In value terms, retail turnover declined 2.8 percent monthly in February, much slower than January’s 31.3 percent fall. Sales value increased 6.8 percent annually in January. In the first two months of the year, sales value rose 7.1 percent.

The statistical office also reported that vehicle registrations declined 12.2 percent annually during the first four months of the year.

Preliminary estimates from the agency showed today that Cyprus’ economy stagnated in the first quarter, following four quarters of expansion.

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