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Hungary retail sales down in March

Retail sales in Hungary fell in March both on the year and on the month after slight gains in February. Sales dropped a calendar year-adjusted 0.9% year over year and dropped 0.5% from February according to seasonally and workday-adjusted figures, the Central Statistics Office (KSH) said on Tuesday.

The twelve-month drop came after a slight gain of 0.1% in each of the previous two months, and declines in the fourth quarter of 2010.

In a month-on-month comparison, retail sales dropped after no change in February and a 0.6% increase in January.

January-March sales were down 0.2% from a year earlier.

Retail sales fell 2.3% last year, declining for the fourth year in a row.

Car and car part sales ─ which, in line with EU methodology, are not part of the retail statistics ─ fell 6.3% year over year in March after no change in February, and Q1 sales were down 4.5% from a year earlier.