October retail sales growth revised down to 6.4%

Figures

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Retail sales in Hungary rose 6.4% year-on-year in October, the Central Statistical Office (KSH) said in a second reading of data released on Tuesday. The KSH lowered the rate from the 6.6% figure published in a preliminary reading on December 5.

The fresh data show retail sales adjusted for calendar effects rose 5.5% year-on-year in October. The volume of sales increased by 4.0% in specialized and non-specialized food retail, while non-food sales rose 7.9%, and vehicle fuel sales were up 4.4%.

Within food retail, the volume of sales grew by 5.0% in non-specialized food and beverage shops (accounting for 77% of food retail), but remained unchanged in specialized food, beverage and tobacco stores.

Within non-food retail, sales rose in non-specialized shops dealing in manufactured goods (13%), pharmaceuticals, medical goods and cosmetics (10%), textiles, clothing and footwear (8.0%), furniture and electrical goods (4.8%), second-hand goods (3.4%), and books, computer equipment and other specialized items (1.8%).

The volume of mail order and internet retail, accounting for 4.6% of all retail sales and involving a wide range of goods, rose by 23%, continuing a multi-year expansion.

In absolute terms, retail sales totaled HUF 1,033 billion at current prices in October. Food, drink and tobacco stores accounted for 44% of all retail sales, while the relevant figures for non-food retail and the network of petrol stations were a respective 39% and 17%.

For the period January-October, retail sales were up an unadjusted 6.3% year-on-year, and an adjusted 6.4%. Adjusted food sales climbed 4.0%, non-food sales rose 9.4%, and vehicle fuel sales were up 6.6% compared to the first ten months of 2017.

A first estimate of November retail sales will be published on January 7, 2019, with a second, more detailed estimate on January 24.

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