Nov retail sales rise higher than expected - analysts
Retail sales in Hungary rose faster than expected in November, but analysts see tax changes causing sales to drop from January.
Retail sales volume edged up 1.1% in November from the same month a year earlier, the Central Statistics Office (KSH) said early Wednesday.
Gergely Suppan of TakarekBank attributed the increase mainly to a low base. He said retail sales could fall 1.5-2% in January because of the higher VAT rate and cuts in social transfers.
Erste Bank’s Orsolya Nyeste said the increase was part of a trend but could also be attributed to one-off effects, such as the payment of real yields on private pension fund assets transferred to the state. She added that retail sales could fall 2% this year.
ADVERTISEMENT
POPIHN Raises Forecast for Fuel Consumption
Hungarian Lawmakers Ratify Finland's NATO Accession
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.
