Hungarian retail sales grow 5.2% in October
Retail sales in Hungary rose 5.2% in October from the same month a year earlier, accelerating from 4.5% in the previous month, preliminary calendar year-adjusted data released by the Central Statistics Office (KSH) on Wednesday show.
Retail sales were up 5.2% according to unadjusted data after rising 5.0% in September.
Retail food sales rose an adjusted 3.7%. Non-food sales were up by 6.6% and vehicle-fuel sales increased by a sharp 6.5%.
In January-October, retail sales rose 5.1% according to both calendar year-adjusted and unadjusted data. Food sales rose an adjusted 5.2%, non-food sales were up 5.1% and vehicle-fuel sales increased 5.1%.
KSH will update the October data on its website on December 19.
Senior analyst Gergely Gabler of Erste Bank said the fast increase in retail turnover was due to very low inflation and the increased disposable income as well as the mandatory use of tills connected directly to the tax office.
György Vámos, general secretary of the National Trade Association (OKSZ) noted that after slower growth in the summer, retail sales growth accelerated in the autumn months.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.