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Hungary Retail Sales Down 10.1% y.o.y. in Feb 2023

Retail

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In February 2023, the volume of retail trade in both raw and calendar-adjusted data was 10.1% lower than in the same month of the previous year, the Central Statistical Office (KSH) says.

Compared to the second month of 2022, the volume of sales decreased by 8.6% in specialized and non-specialized food retailing. The volume of sales decreased by 9.6% in non-specialized food and beverages shops accounting for 77% of food retailing and by 5.3% in specialized food, beverage and tobacco stores.

The turnover of non-food retailing decreased by a total of 9.8% in volume. Sales volumes rose by 7.6% in second-hand goods shops, by 2.7% in pharmaceutical, medical goods and cosmetics shops, while sales volumes decreased by 3.5% in books, computer equipment and other specialized stores, by 7.8% in textiles, clothing and footwear shops and by 19-19% in non-specialized shops dealing in manufactured goods and in furniture and electrical goods stores.

The volume of mail order and internet retailing accounting for 8.1% of all retail sales and involving a wide range of goods fell by 13%.

The volume of sales in automotive fuel stations decreased by 14.5%.

Sales in motor vehicles and motor vehicle parts and accessories stores not belonging to retail data decreased by 0.6%.

Domestic retail sales amounted to HUF 1.31 trillion at current prices in February 2023. Specialized and non-specialized food shops accounted for 49% of all retail sales, while the relevant figures for non-food retail trade and retail trade of petrol stations were 34% and 17% respectively.

The volume of retail trade decreased by 7.3% in January-February 2023 compared to the same period of the previous year. The volume of sales fell by 6.7% in specialized and non-specialized food shops, by 5.8% in non-food retail trade, and by 12.2% in automotive fuel retail trade.

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