January retail sales growth revised up to 7.8%

Figures

In January 2018, the volume of sales in retail shops, according to both raw and calendar-adjusted data, grew by 7.8% compared to the same month last year, the Central Statistical Office (KSH) said in a second estimate of monthly retail trade data. The figure is 0.3 of a percentage point higher than that published in the first estimate on March 5.

In January 2018, compared to the same month of the previous year, and adjusted for calendar effects, the volume of sales rose by 4.5% in specialized and non-specialized food shops, by 12.5% in non-food retail shops, and by 8.1% in automotive fuel retail.

Within food sales, sales volume grew by 4.1% in non-specialized food and beverage shops (accounting for 77% of food retail), and by 4.6% in specialized food, beverage and tobacco stores.

Within non-food retail, sales rose in non-specialized shops dealing in manufactured goods and furniture or in electrical goods (both by 20%), second-hand goods (17%), books, computer equipment and other specialized items (8.3%), textiles, clothing and footwear (5.7%), and pharmaceuticals, medical goods and cosmetics (4.3%).

The volume of mail order and internet retail - accounting for 4.2% of all retail sales and involving a wide range of goods - rose by 25%, continuing a multi-year expansion, the KSH noted.

Sales of motor vehicles and motor vehicle parts and accessories, which are not included in retail data, increased by 12%.

In January 2018, in absolute terms, sales in the national retail trade network, as well as in mail order and internet retail, amounted to HUF 775 billion at current prices.

Food, drink and tobacco stores accounted for 47% of all retail sales, while the relevant figures for non-food retail shops and the network of petrol stations were 36% and 17%, respectively.

The KSH will publish its first estimate of retail trade data for February 2018 on April 5.

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