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Sep 04, 2020

Retail sales increase by an annual 0.4 percent in July

Retail sales in Hungary increased by an annual 0.4 percent in July, continuing to recover after lockdown declines in April and May.

 

Retail sales in Hungary increased by an annual 0.4 percent in July, continuing to recover after lockdown declines in April and May.

According to the Central Statistical Office (KSH), retail sales growth slowed from 0.8 percent in May. Adjusted food sales rose by 3.3 percent, non-food sales were up 0.4 percent and fuel sales fell by 7.0 percent.

In the January-July period, retail sales rose by an adjusted and unadjusted 1.1 percent. Food sales were up 4.4 percent, non-food sales increased by 1.9 percent and vehicle fuel sales dropped by 10.6 percent.

ING Bank senior analyst Péter Virovácz said the moderate recovery in retail sales would continue for the rest of the summer, but added that growth could slow in the autumn as government wage support measures wind up, leaving some households with less income.