UPDATE - Hungary retail sales drop 0.5% in June

Telco


Retail sales in Hungary fell a calendar-adjusted yr/yr 0.5% in June and were down 0.5% from May according to seasonally and workday-adjusted figures as the increases registered in May proved temporary, the Central Statistics Office (KSH) said on Wednesday.

Retail sales volume rose 0.7% on the year and 0.5% on the month in May after declines in the previous three months, except for a slight 0.1% yr/yr increase in February, revised KSH figures show.

January-June sales were down 0.2% from a year earlier, with no change in the first quarter followed by a 0.3% decline in the second quarter.

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 1.6% yr/yr in June after a 1.0% yr/yr decline in May. Car and car part sales in the first six months were down 2.6% from a year earlier.

Retail sales totaled HUF 658 billion in June 2011 and HUF 3,579 billion in the first half of this year.

The June drop was due to non-food sales which fell 1.2% on the month and 1.3% in the twelve months to June, the adjusted figures show.

Retail sales of food, beverages and tobacco were up 0.1% from May and rose 0.5% yr/yr. Sales at non-specialized stores were unchanged m/m and were down 0.4% yr/yr.

In the non-food segment, the biggest monthly drop was registered in the sales volume of textiles, clothing and shoes, which fell 5.4% m/m and dropped 8.6% yr/yr, of furniture and construction material, which declined 1.9% m/m and fell 6.6% yr/yr, and of mixed industrial goods, which dropped 2% m/m and fell 6.3% yr/yr.

Sales of books, newspapers and paper goods rose, in contrast, by 0.1% m/m and increased 7% yr/yr, pharmaceuticals sales rose 1.7% m/m and increased 5.3% yr/yr, and sales of cosmetics were up 0.3% m/m and rose 10.5% yr/yr.

Mail order firms registered the biggest sales volume increase at 14.3% yr/yr. In a month-on-month comparison, these firms increased their sales 8.4%.

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