Retail sales growth declines in Hungary

Retail sales growth in Hungary dropped by an annual 4.8 percent in December, falling for the first time since the spring of 2021, data released by the Central Statistical Office (KSH) on Monday show.

Adjusted for calendar year effects, retail sales slipped by 3.9 percent. Adjusted food sales fell by 8.3 percent and non-food sales edged down 0.4 percent, while motor fuel sales rose by 1.3 percent after months of a double-digit growth.

Retail sales had increased by 0.6 percent in the previous two months, KSH said.

A detailed breakdown of the data shows adjusted sales fell at nearly all types of retail businesses, with second-hand shops, clothing and footwear shops, computer shops, pharmacies and petrol stations among the exceptions.

In December 2022:

Domestic retail sales amounted to HUF 1,765 billion at current prices.

Specialized and non-specialized food shops accounted for 48% of all retail sales, while the relevant figures for non-food retail trade and retail trade of petrol stations were 38% and 14% respectively.

In 2022, compared to the previous year, adjusted for calendar effects:

The volume of retail trade increased by 5.3%.

The volume of sales decreased by 1.5% in specialized and non-specialized food shops and rose by 5.8% in non-food retail trade and by 24.2% in automotive fuel retail trade.

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