Hungary retail sales down 1.4% yr/yr in February

Telco

Retail sales in Hungary dropped a calendar-adjusted 1.4% in volume terms in the twelve months to February and were down 0.5% from December according to data adjusted for seasonal and calendar effects, the Central Statistics Office (KSH) said on Tuesday.

Retail trade fell yr/yr after six months of moderate increases, including a 0.6% rise in January. The monthly decrease was the second one in a row.

January-February retail sales were down 0.4% from a year earlier.

2011 retail sales were up 0.2% from 2010, rising the first time since 2006.

In nominal terms, retail sales were worth HUF 522.0 billion in February, down from HUF 561.5 billion in January, and up from HUF 511.6 billion a year earlier.

Car and car part sales, which, in line with EU methodology, are not part of the retail statistics, were up 1.7% yr/yr in February and rose 6.0% yr/yr in the first two months, boosted by a reduced car registration tax and a low base, KSH reported. They started to rise after many months of decline last November, but 2011 car and car part sales were still down 4.5% from 2010.

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