Hungary retail sales grow 4.5% in September

Figures

Retail sales in Hungary rose 4.5% in September from the same month a year earlier, accelerating from 2.5% in each of the previous two months, preliminary calendar year-adjusted data released by the Central Statistics Office (KSH) on Wednesday show.

Retail sales were up 5.0% according to unadjusted data.

Retail food sales rose an adjusted 2.4%. Non-food sales were up by 5.9% and vehicle-fuel sales increased by a sharp 7.6%.

In January-September, retail sales rose 5.1% according to calendar year-adjusted data and 5.0% according to unadjusted data. Food sales rose an adjusted 5.4%, non-food sales were up 4.9% and vehicle-fuel sales increased 4.9%.

KSH will update the September data on its website on November 26.

Analyst Andras Balatoni of ING Bank attributed the increase in retail sales to rising real wages.

Gergely Gabler of Erste Bank Hungary said the September data mirrors the pickup in domestic demand.

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