Tuesday, Statistics Estonia said the retail sales at constant prices fell 18% in February compared with the previous year. The latest decline dwarfed the 10% fall witnessed in the previous month.

The statistical agency said, In February, the retail sales decreased to the lowest level so far.

The decline was attributed to the economic slowdown and deteriorating consumer confidence. According to the Estonian Institute of Economic Research, consumer confidence dropped to a record low of minus 37 in March from minus 35 in February.

Compared to the previous month, retail sales declined 7% at constant prices, and after seasonal and calendar-based adjustments, fell 2%.

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