KSH: Retail sales in Hungary up 7.0% in July

Deals

Retail sales in Hungary saw a year-on-year rise of 7.0% in July, with the same increase when adjusted to calendar year effects, while the unadjusted rise was slightly down from 7.2% in June, Hungary’s Central Statistical Office (KSH) reported today in the release of preliminary data.

KSH data suggest that adjusted food sales climbed 6.3% in July, non-food sales were up 7.2% and fuel sales increased 8.3%.

KSH noted that legislation requiring most big retailers to remain closed on Sundays came into force in the middle of March, but said that more time and data were needed to gauge the effects of the new rule.

KSH is scheduled to publish a second reading of the July data on September 24.

Takarékbank chief analyst András Oszlay told Hungarian news agency MTI that the July retail sales growth was over the 5.8% consensus as well as the bankʼs 6.3% estimate. A crackdown on the shadow economy could play a significant role in the increase, he added. ING senior analyst András Balatoni projected a full-year retail sales growth of 5.8%.

ADVERTISEMENT

Climate change hurts economy, but creates new business oppor... Analysis

Climate change hurts economy, but creates new business oppor...

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Dentons rehires banking and finance partner Appointments

Dentons rehires banking and finance partner

Budapest launches revamped coupon card for visitors City

Budapest launches revamped coupon card for visitors

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.