The Central Statistical Office (KSH) has announced that retail sales in Hungary grew by an annual 5.8 percent in May, increasing for the second month in a row after eight months of declines.
Retail sales also rose by 5.8 percent when adjusted for calendar year effects. Adjusted food sales increased by 2.6 percent and non-food sales climbed 8.7 percent. Vehicle fuel sales increased by 9.7 percent. Sales of clothing and footwear shops rose by 59.8 percent and second-hand shop sales climbed 48.4 percent, continuing to show strong growth after unprecedented increases in April, when non-essential businesses reopened after a pandemic lockdown. In absolute terms, retail sales reached HUF 1,146 billion (EUR 3.3bn), at current prices. Food sales accounted for 47 percent of the total, non-food sales for 38 percent and vehicle fuel sales by 15 percent.
Péter Cseresnyés, state secretary at the innovation and technology ministry, told public broadcaster M1 that further growth in retail trade was expected in view of increasing wages and the removal of coronavirus-related restrictions. The May figure indicates that “retail has started to recover”, he said, adding that 6 percent growth was similar to the tendency seven years before the coronavirus outbreak.