Retail sales climb 6.3 per cent in October

Retail sales in Hungary rose by an annual 6.3 percent in October, according to both unadjusted and calendar-year-adjusted data, the Central Statistical Office (KSH) said in a first reading of data released on Tuesday.

Sales growth accelerated from 5.6 percent in September and 4.7 percent in August.

Adjusted food sales were up 3.1 percent and non-food sales climbed by 9.7 percent while fuel sales rose by 7.1 percent.

In January-October, retail sales increased by 4.5 percent, according to both unadjusted and calendar-year-adjusted data. Adjusted food sales were up 2.5 percent and non-food sales climbed by 7.7 percent, while fuel sales rose by 3.2 percent.

Analyst Gergely Suppán of Takarékbank told MTI that he expected retail sales would continue to grow by around 6 percent in the coming months and he forecast full-year growth of just above 4.5 percent in the sector both this year and in 2018.

Gergely Ürmössy of Erste Bank also forecast retail sales growth of 4.5-5 percent in 2017 and a similar expansion in 2018.

Source: MTI