KSH: Hungary's retail sales growth slows to 3.8%


Retail sales in Hungary rose 3.8% in June is slowing from a 4.9% increase in May y.o.y. preliminary calendar year-adjusted data released by the Central Statistics Office (KSH) revealed today.

Retail sales were also up 3.8% according to unadjusted data.  Retail food sales rose by an adjusted 6.1%, while non-food sales were up 0.5% and vehicle-fuel sales increased 4.6%.

In the first half of the year, retail sales rose 6.1% according to both unadjusted and adjusted data. Food sales rose an adjusted 7.7%, non-food sales were up 4.6% and vehicle-fuel sales increased 4.9%.

KSH is expected to publish an update of the June data on August 27.

Analysts informed Hungarian news agency MTI that retail sales growth could continue to slow down as the discrepancy between the latest data and the base figures is eliminated from next month.

The figures for H1 2014 are not comparable with those for the same period of 2013 as KSH has been using different data sources since the introduction of a state monopoly on retail tobacco sales in July 2013. However, for the sake of comparison, KSH has also published data analyzed according to data sources used earlier.

Erste Bank analyst Gergely Gabler said that, based on the old methodology, retail sales growth slowed to 1.3% in June from 2.4% in May and 6.5% in April, noting that this is the last month when the changes in the measuring of retail sales data must be taken into account.

Buda-Cash Brokerage analyst Zoltan Reczey also said that the retail sales growth of June was well below both expectations and the previous month's figure. He said the slowdown would probably continue in the coming months.

MET Group Records 2nd Most Profitable Year in 2023 Energy Trade

MET Group Records 2nd Most Profitable Year in 2023

Gov't Considering Fuel Price Intervention Government

Gov't Considering Fuel Price Intervention

Uber to Return to Hungary at Beginning of Summer Transport

Uber to Return to Hungary at Beginning of Summer

Time Out Market to Open in Budapest Next Year Food

Time Out Market to Open in Budapest Next Year


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.