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Hungary retail sales volume drops 4.6% yr/yr in June

Hungary's retail sales dropped 4.6% yr/yr in volume terms in June as the twelve-month slide slowed again slightly after picking up to 5.0% in April, and down to 4.8% in May, the Central Statistics Office (KSH) reported on Wednesday, citing calendar-year-adjusted data.

Retail sales dropped by a seasonally and workday-adjusted 0.1% from May, in the fourth — but smallest — month-on-month drop in a row.

Retail sales volume declined 4.7% in H1 from a year earlier, after an average slide of 5.1% last year.

Food, beverages and tobacco volumes declined 3.2% yr/yr in June after dropping 3.9% in May, They were down 3.8% yr/yr in H1. Sales eased 0,1% from May after a 0,1% m/m growth is May.

Volumes of non-food products decreased 4.5% yr/yr in June after a 2.8% decline in May. They were down 4.0% yr/yr in H1. Sales in this sector dropped 0.1% m/m after a decline of 1.0% in May.

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.

Car and car parts sales, which are not included in EU retail sales data, were down 10.5% in June after dropping 10.8% yr/yr in May and dropped 26.2% yr/yr in H1 after a 41.3% drop last year. (MTI-ECONEWS)