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Oct 05, 2017

Hungary's retail sales increase by 4.6% annually

Hungary's retail sales have increased by 4.6 percent annually in August, up from 4.2 percent in July

Hungary's retail sales have increased by 4.6 percent annually in August, up from 4.2 percent in July, it has been revealed.

Data released by the Central Statistical Office (KSH) on Wednesday show that, once adjusted for calendar year effects, food sales were up 2.9 percent in August and non-food sales increased by 7.7 percent.

Official figures also showed that fuel sales increased by 2.6 percent, sales growth accelerated from the previous month in the food and non-food categories but slowed for fuel sales.

According to MTI,  retail sales saw an unadjusted rise of 4.1 percent between January-August,compared with the same period a year earlier. Adjusted figures show retail sales rose by 4 percent, as food sales increased by 2.3 percent, non-food sales by 6.8 percent and fuel sales by 3.2 percent.

The economy ministry said the 7.7 percent increase in non-food sales reflected a continual boom in public confidence, as households buy more and more durables. The government’s home creation scheme has also contributed to this increase, and retail sales have been on the rise for 50 months.