Retail sales climb 5.4% in July
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In July 2018, the volume of sales in retail shops increased by 5.4% according to raw data, and by 5.3% adjusted for calendar effects, compared to the same month of the previous year, according to a first estimate from the Central Statistical Office (KSH). Sales growth decelerated from 6.8% in June.
The volume of sales, adjusted for calendar effects, rose by 2.2% in specialized and non-specialized food shops, by 9.2% in non-food retail stores, and by 5.6% in automotive fuel retail.
In January–July 2018, the volume of sales – according to both unadjusted and calendar-adjusted data – was 6.7% higher than in the corresponding seven-month period of the previous year. Adjusted food sales were up 4.1%, non-food sales climbed 9.8%, and fuel sales rose 7.2% over the period.
Speaking to state news agency MTI, ING Bank chief analyst Péter Virovácz said July sales growth was below the market expectation but still not bad at the start of the Q3 period.
TakarékBank analyst Gergely Suppan said retail sales growth could reach 6.1% in 2018, following a 5.3% increase in 2017.
A second, more detailed estimate of retail trade figures for July 2018 will be released on September 21.
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