Are you sure?

Retail sales growth slows to 3% in May

Retail sales in Hungary climbed just 3.0% in May from the same month a year earlier, decelerating from 8.5% growth in April, data released by the Central Statistical Office (KSH) on Thursday show.

Calendar-adjusted data show retail sales were up 2.6% year-on-year in May. Adjusted food sales were up 1.0%, non-food sales climbed 4.8%, and fuel sales were up 0.8% year-on-year.

Within the non-food segment, adjusted sales of clothing retailers fell 2.1%, sales of second-hand goods were down 7.1%, and sales at pharmacies climbed 2.7%. Sales in book and computer shops were down 1.7%. Sales in furniture shops increased 0.1%.

Online and mail order sales rose 38%, but still accounted for only around 5.8% of total retail sales.

Sales of motor vehicles and vehicle parts, which are not included in retail sales, were up 13%.

In absolute terms, retail sales amounted to HUF 1,015 billion in May. Food, drink and tobacco stores accounted for 45% of all retail sales, while the relevant figures for non-food retail shops and the network of petrol stations were 38% and 17%, respectively.

In January-May, calendar year-adjusted retail sales rose 5.8% year-on-year, while unadjusted sales were up 5.9%. Adjusted food sales rose 3.0%, non-food sales climbed 8.4%, and fuel sales grew 8.0%.

Retail trade data for June 2019, and for the first half of the year, will be published on August 2.