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Hungary retail sales drop continues in April

Retail sales in Hungary declined both on the year and on the month in April as they did in March. Volume dropped a calendar year-adjusted 1.3% yr/yr and dropped 0.4% from March according to seasonally and workday-adjusted figures, the Central Statistics Office (KSH) said on Friday.

The twelve-month drop came after a 0.9% decline in March and slight rises of 0.1% in both January and February. Retail sales rose yr/yr for the first time in July 2010 after steady drops since March 2007, but declined again in the fourth quarter of 2010.

In a month-on-month comparison, retail sales dropped after a 0.5% decline in March, no change in February and a 0.6% increase in January.

January-April sales were down 0.5% from a year earlier.

Retail sales in Hungary 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 0.5% in April as the decline slowed from 6.3% yr/yr in March. Car and car part sales in January-April were down 3.4% from a year earlier.