ADVERTISEMENT

Hungary retail sales down 2.6% in year to July

Figures

Retail sales in Hungary fell a calendar year-adjusted 2.6% year-on-year in July, after dropping 1.7% yr/yr in the previous month, the Central Statistics Office (KSH) said on Monday.

Adjusted for calendar year and seasonal effects, retail sales fell 0.4% in July after remaining practically unchanged for two consecutive months.

January-July retail sales were down 1.3% from a year earlier according to calendar-adjusted figures as sales volume fell yr/yr in five of the seven months. The two months with a yr/yr rise were January and March.

Retail sales in Hungary rose a calendar-adjusted 0.3% in 2011 after steady drops between 2007 and 2010.

In nominal terms, retail sales were worth HUF 731.3 billion in July, up HUF 43.9 billion in a month, and up HUF 32 billion from a year earlier.

Sales of shops selling food, drink and tobacco fell a calendar-adjusted 2.4% yr/yr in July and rose 0.2% in January-July. They fell a seasonally and calendar-adjusted 0.9% from June. They rose at a 0.2%-0.3% monthly pace in nine of the past twelve months. The other three months showed decreases between 0.2-1.1%.

Sales of non-food products fell 2.5% yr/yr and rose 0.1% on the month in July, the adjusted figures show. January-July non-food sales were down 2.1% yr/yr. The monthly rise followed drops in three consecutive months.

Within non-food sales, pharmaceuticals and medical goods sales rose 0.3% yr/yr in July in the first rise since last December, and were still down 5.5% yr/yr in January-July. They rose 5.0% from a month earlier.

Sales of furniture and electrical goods fell 8.1% yr/yr and fell 0.1% in a month, the adjusted figures show. January-July sales in the product group wee down 8.3% yr/yr.

Fuel sales continued to decline in a year-on-year comparison, and were down 2.0% in July and 2.8% in January-July. But they rose a seasonally and calendar-adjusted 2.2% month-on-month after rising 0.7% in June following four months of monthly decline.

Car and car part sales, which, in line with EU methodology, are not part of the retail statistics, were down 2.4% yr/yr in July and were up 1.3% yr/yr in the first seven months, KSH reported. 2011 car and car part sales were down 4.5% from 2010.

ADVERTISEMENT

Rate-setters augur slower decline in CPI in 2022 Analysis

Rate-setters augur slower decline in CPI in 2022

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

Magyar Bankholding chairman to serve as CEO as well Appointments

Magyar Bankholding chairman to serve as CEO as well

ITM, capital gov't agree on support for public transport City

ITM, capital gov't agree on support for public transport

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.