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Nov 07, 2017

Hungary’s retail sales increased by an annual 5.4 percent in September

Sales of durable goods is on a dynamic rise, the economy ministry said. Analysts also agree that retail sales may see a further upswing in the coming months

Hungary’s retail sales increased by an annual 5.4 percent in September, the Central Statistical Office (KSH) has announced.

According to official figures, sales growth grew from 4.2 percent in July and 4.7 percent in August. The September increase was 6.0 percent when adjusted for calendar-year effects.

According to MTI, adjusted food sales were up 2.7 percent, non-food sales grew by 12.5 percent and fuel sales dropped by 0.5 percent.

Between January-September, retail sales rose by an unadjusted 4.2 percent and an adjusted 4.3 percent annually. Adjusted food sales were up 2.4 percent, non-food sales grew by 7.5 percent and fuel sales rose by 2.8 percent.

Gyula Pomázi, deputy state secretary of the economy ministry, said that retail sales have been increasing for 51 months in a row. The trend was driven by the growth of net wages and the growing confidence index.

Sales of durable goods is on a dynamic rise, Pomázi said. Reports also suggest that analysts agree that retail sales may see a further upswing in the coming months.