Domestic Consumption: The long holiday during the end of April/beginning of May should drive higher growth for May’s retail sales. 4M nominal retail sales of goods and services increased 9.6% YoY (better than 8.8% YoY recorded in 4M 2016). However, real retail sales increased only 6.7% YoY vs 7.8%YoY in 4M 2016 due to higher inflation seen this year.