Hungary retail sales fall 2.9% in March

Telco

Retail sales in Hungary fell a calendar year-adjusted 2.9% year-on-year in March, accelerating from a 1.2% decline in the previous month, the Central Statistics Office (KSH) said on Friday. The March drop was revised slightly from a 2.8% decline in a first reading published on May 6. Retail sales were down every month yr/yr in the past twelve months. Food sales dropped a calendar-year-adjusted 1.1% in March. Non-food sales fell 3.4% and vehicle fuel sales were down 4.8%. Unadjusted data show retail sales edged down 0.4% in March, slowing from a 2.3% decline in February. Sales of vehicles and vehicle parts, which are not part of the EU retail statistics, dropped 9.9% according to unadjusted data. In a month-on-month comparison, sales were down by a seasonally- and calendar-adjusted 0.7% in March from February after no change in the previous month. Food sales edged up 0.1%, non-food sales inched down 0.8%, and vehicle fuel sales were down 0.3%. In absolute terms, retail sales came to HUF 659.7 billion in March. Food sales reached HUF 320.9 billion and non-food sales were HUF 217.9 billion.

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