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Hungarian retail sales volume down 2%

Retail sales volume in Hungary fell a calendar year-adjusted 2% yr/y in November 2008, the Central Statistical Office (KSH) reported.

Retail sales were down 1.9% in January-November from the same period a year earlier.

November retail sales fell 0.4% from the previous month after a decrease of 0.1% in October, falling 0.3% in September and stagnation in August and July, according to seasonally- and calendar year-adjusted figures.

Retail sales have been dropping yr/yr each month since February 2007.

Retail sales totaled HUF 540.7 billion (€1.881 billion) at current prices in November and amounted to HUF 5,655.8 billion in the first eleven months of 2008.

Retail food sales dropped a calendar year adjusted 0.7% yr/yr in November and 1.2% in January-November compared to the same period of 2007, while non-food retail sales fell 2.8% in November and 2.5% in January-November.

In line with EU methodology, the figures do not include sales of vehicles, vehicle parts or fuel.

Car fuel retail sales were down 0.6% in November after falling 1.1 % yr/yr in October and a 0.8% drop in September, a 0.2% decrease in August. In January-November car fuel retail sales were down 0.1%. Car sales including spare parts and accessories, on the other hand, decreased 21.3% in November, after a 9.9% drop in October and falling 3.4% in September, and were down 6.7% from the first eleven months of 2007.

Car and car fuel retail sales amounted to HUF 186.7 billion in November, and were down 11.8% yr/yr, while in January-November sales totaled of HUF 2,162.3 billion falling 3.5% from the same period 2007. (MTI – Econews)