Hungary's retail sales grow 2.5% in August
The volume of retail sales rose year-on-year by a calendar adjusted 2.5% in August, growing at the same pace as in July, preliminary data released by the Central Statistics Office (KSH) today show.
The volume of sales decreased by 2.0% in food, drinks and tobacco stores, while it increased by 7.2% in non-food retail trade and by 4.3% in automotive fuel retailing, the report revealed.
Analyst Gergely Gabler of Erste Bank Hungary said the August retail sales growth figure was higher than expected, adding that this confirms that domestic demand is picking up, which could be a key engine for GDP growth in the coming year.
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