Daily News Hungary economy

Budapest, December 3 (MTI) – Retail sales in Hungary climbed by 4.0 in October from the same month a year earlier, preliminary data released by the Central Statistical Office (KSH) on Thursday show.

Retail sales rose by 4.5 percent when adjusted for calendar year effects.

The unadjusted rise was down from 5.1 percent in September.

Adjusted food sales were up by 2.0 percent in October, non-food sales climbed by 7.8 percent and fuel sales increased by 3.4 percent.

In January-October 2015, retail sales were up by 5.7 percent according to unadjusted data and rose by 5.8 percent according to adjusted data.

KSH noted that legislation requiring most big retailers to remain closed on Sundays came into force in the middle of March, but said that more time and data were needed to determine the effects of the new rule.

Takarekbank analyst Gergely Suppan put full-year retail sales growth at 5.5 percent this year and more than 3 percent in 2016.

Vivien Barczel and Gergely Urmossy of Erste said retail sales growth could continue next year, helped by real wage growth. They noted that non-food sales showed the biggest rise in October, which suggests that households are increasingly making purchases they put off during the crisis.

Source: http://mtva.hu/hu/hungary-matters

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