Retail Sales Fall 6.5% y.o.y. in October

Retail

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In October 2023, the volume of retail trade in both raw and calendar-adjusted data was 6.5% lower than in the same month of the previous year, the Central Statistical Office (KSH) reports.

 

Compared to October 2022, the volume of sales decreased by 1.9% in specialized and non-specialized food retailing. The volume of sales decreased by 1.5% in non-specialized food and beverages shops accounting for 76% of food retailing and by 3.1% in specialized food, beverage, and tobacco stores.

The turnover of non-food retailing decreased by a total of 5.1% in volume. Sales volumes rose by 7.2% in pharmaceutical, medical goods, and cosmetics shops, while sales volumes decreased by 3.4% in books, computer equipment, and other specialized stores, by 7.9% in second-hand goods shops, by 8.3% in textiles, clothing, and footwear shops, by 13% in non-specialized shops dealing in manufactured goods and by 15% 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 2.3%, KSH reports.

The volume of sales in automotive fuel stations was 21.1% down compared to the same month of last year.

Sales in motor vehicles and motor vehicle parts and accessories stores not belonging to retail data increased by 8.9%.

Domestic retail sales amounted to HUF 1.589 trillion at current prices in October 2023.

Specialized and non-specialized food shops accounted for some 47% of all retail sales, and the relevant figures for non-food retail trade and retail trade of petrol stations were 35% and 18%.

January-October Retail Sales Plummet

In January-October 2023, the volume of retail trade decreased by 9% compared to the first 10 months of 2022.

The volume of sales fell by 5.7% in specialized and non-specialized food shops, by 7.1% in non-food retail trade, and by 21.1% in automotive fuel retail trade.

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