November retail sales up 5.3% year-on-year

Figures

The volume of retail sales grew by 5.3% in November 2018 according to raw data, and by 5.2% when adjusted for calendar effects, compared to November 2017, according to a flash estimate of monthly data published today by the Central Statistical Office (KSH).

Unadjusted sales growth decelerated from 6.4% in October.

The volume of retail sales grew a calendar-adjusted 1.7% in specialized and non-specialized food shops, by 9.1% in non-food retail, and by 5.6% in automotive fuel retail.

In the period January-November 2018, the calendar-adjusted volume of sales was 6.3% higher than in the corresponding period of 2017. Retail sales grew by 3.8% in specialized and non-specialized food shops, by 9.4% in non-food retail, and by 6.5% in automotive fuel retail in the first eleven months of the year.

In response to the latest data, state news wire MTI cited analyst Gergely Suppan of TakarékBank as saying that retail sales could continue to grow dynamically in the coming months. Retail sales growth in 2018 could turn out at around 6.3%, he estimated, although adding that growth could slow to 4.5% in 2019.

ING Bankʼs chief analyst Péter Virovácz noted that monthly data show retail sales have been edging down since the end of 2017. The latest monthly data also show the effects of high base numbers and a moderation in household consumption, he added.

A second, more detailed estimate of retail trade figures for November 2018 will be published on January 24.

ADVERTISEMENT

Industries lose billions on counterfeit products Analysis

Industries lose billions on counterfeit products

Parl't to vote on groundwork for commercial accommodation ra... Parliament

Parl't to vote on groundwork for commercial accommodation ra...

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Budapest re-launches airport shuttle bus City

Budapest re-launches airport shuttle bus

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.