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Hungarian retail sales volume drops 4.7% yr/yr in May

Hungary's retail sales dropped 4.7% year-on-year (yr/yr) in volume terms in May 2010 as the twelve-month drop slowed down slightly after picking up to 5.0% in April, the Central Statistical Office (KSH) reported on Monday, citing calendar-year-adjusted data.

Retail sales dropped by a seasonally and workday-adjusted 0.5% from March, in the third month-on-month drop in a row.

Retail sales volume in January-May declined 4.7% from a year earlier.

Hungary's retail sales volume has dropped every month since April 2007 in yr/yr terms. There were just five months with a month-on-month increase since the start of 2007, two of the increases in the first two months of this year.

Retail sales - which include sales of vehicle fuel, in line with revised European Union statistical classifications - totalled HUF 605 billion at current prices in May, down a slight HUF 1 billion from April, and up by a slightly HUF 4 billion in nominal terms from May 2009.

Vehicle fuel sales volume fell a seasonally adjusted 0.7% in May from April, dropping now for the third month in a row, revised figures show. May fuel sales were down 11.7% in twelve months, in the sharpest of the steady twelve-month drops experienced since July 2009. January-May fuel sales were down 9.8% yr/yr.

The sale of shops selling food and other fast-moving goods was unchanged in a seasonally and workday adjusted monthly comparison from April after a big 0.9% drop in the previous month. The twelve-month drop in the sales volume of these shops slowed to a calendar-adjusted 3.9% in May from a sharp 5.7% in April. January-May sales were down 3.8% from a year earlier. May sales volume of hyper- and supermarkets, which had a 91% share in total turnover, fell 4.3% yr/yr.

Non-food sales fell 1.0% on the month after a 0.3% drop in April and rises in the previous three months, excluding seasonal and calendar effects. The twelve-month calendar-adjusted drop of non-food sales slowed, however, to 2.8% from 3.6% yr/yr in April, and five-month sales of these shops was down 3.9%.

Car and car parts sales, which are not included in EU retail sales data, were down 10.8% yr/yr in May and dropped 28.2% yr/yr in January-May after a 41.3% drop last year. (MTI – Econews)