Hungary retail sales climb 6.8 pc in May

Budapest, July 5 (MTI) – Retail sales in Hungary rose by an annual 6.8 percent in May, accelerating from a 5.0 percent rise in April, the Central Statistical Office (KSH) said on Tuesday.

Adjusted for calendar-year effects, retail sales were up by 5.7 percent in May, decelerating from 6.7 percent in April.

The adjusted data show food sales rose by 4.4 percent, non-food sales increased by 6.8 percent and vehicle fuel sales jumped by 9.0 percent in May.

In January-May retail sales rose by an unadjusted 5.2 percent and an adjusted 5.1 percent year-on-year.

Takarékbank analyst Gergely Suppán said retail sales growth could near 5 percent for the full year, supported by real wage growth and higher employment.

Erste Bank chief analyst Gergely Urmossy said the data show a strong dynamic, as expected.

Source: MTI