Retail sales accelerate in September
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In September 2017, the volume of sales in retail shops increased by 5.4% according to raw data, compared to the same month of the previous year, a first estimate of September data from the Central Statistical Office (KSH) shows. Sales growth accelerated from 4.2% in July and 4.7% in August.
The September increase was 6.0% adjusted for calendar effects. Also adjusted for calendar effects, the volume of sales rose by 2.7% in specialized and non-specialized food shops, and by 12.5% in non-food retail shops, while sales decreased by 0.5% in automotive fuel retail.
In January–September 2017, the volume of sales – also according to calendar-adjusted data – was 4.3% higher than in the corresponding period of the previous year. Adjusted food sales were up 2.4% in the first nine months, non-food sales climbed 7.5%, and fuel sales rose 2.8%.
Speaking to state news wire MTI, ING Bankʼs chief analyst Péter Virovácz said retail sales growth is expected to continue to rise at a dynamic pace. He put full-year growth at 4.5%.
TakarékBank analyst Gergely Suppan also put the full-year increase at 4.5%, supported by higher real wages, strong consumer confidence and a rise in household financial assets.
A second estimate of retail trade figures for September is due to be published by the KSH on November 23.
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