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Retail sales rise 0.6% in October

Retail sales in Hungary grew 0.6% in October from a year earlier, according to data adjusted for calendar effects, the Central Statistics Office (KSH) said on Thursday.

The third year-on-year rise followed an increase of 0.3% in September and 0.4% in August after a fall of 1.3% in July.

Retail sales volume was down 0.1% on the month in October adjusted for both calendar and seasonal effects, after stagnating in September and rising 0.4% in August which followed monthly drops in July and June.

Without adjustment retail sales fetched HUF 708.1bn in October at current prices after HUF 689.5bn in September following HUF 709.6bn in August which was this year’s high.

Earlier, third quarter retail sales were down 0.2% from a year earlier, following the same drop in the second quarter and stagnating volumes in the first quarter.

January-October retail sales were down 0.1% from a year earlier.

Retail sales last year, HUF 7,479bn at current prices, were down 2.3% in volume terms on 2009 adjusted for calendar effects, after dropping 5.1% in 2009. Last time it grew was in 2006.

Food, beverages and tobacco sales grew 0.7% yr/yr in October adjusted for calendar effects after increasing 1.5% in September, and were up 0.3% yr/yr in January-October.

Non-food products’ turnover increased 2.2% yr/yr in October after falling 0.6% in September, and was up 0.5% in January-October from a year earlier.