KSH: Retail sales climb 2.5% in October
Retail sales in Hungary rose a calendar year-adjusted 2.5% year-on-year in October after edging up 0.3% in the previous month, the Central Statistics Office (KSH) reported after a first reading of data published yesterday.
Retail food sales rose and adjusted 1.2%. Non-food sales were up 3.3% and fuel sales climbed 3.7%. According to unadjusted data, retail sales were also up 2.5% in October, accelerating from a 0.8% increase in September.
KSH will publish an update of the October data on its website on December 20.
Takarékbank chief analyst Gergely Suppán said the rise in retail sales reflected improved consumer confidence, low inflation and a hike in teachers' wages. The pace of the increase could come close to 4% in the coming months as another utilities price cut leaves households with more disposable income, he added.
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