Modest retail sales growth in Hungary, decreasing trade surplus, but ministry still celebrates
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Data released by the Central Statistics Office (KSH) on Monday show that retail sales in Hungary rose 4.1pc year-on-year in August, adjusted for calendar year effects.
According to KSH, adjusted food sales increased 7.5 percent, non-food sales rose 2.9 percent, and vehicle fuel sales edged down 1.2 percent.
Unadjusted retail sales increased 3.2pc.
Retail sales rose 0.8pc in a month-on-month comparison, adjusted for seasonal and calendar year effects.
In August, retail sales reached HUF 1,668bn. Food sales accounted for 50% of the total, non-food sales 34%, and sales at petrol stations 16%.
For January-August, retail sales rose an adjusted 2.8pc and an unadjusted 3.1pc from the same period a year earlier.
read also – Hungary’s economic update: rising government deficit, PMI growth, and trade surplus increase
National Economy Ministry comment
Commenting on the fresh data, the National Economy Ministry said the upward trend that started in January continued in August. It added that a dynamic increase in real wages had supported retail sales growth.