Weekly newsletter

KSH: Retail Sales In Hungary Expand For 17th Consecutive Month

Tamás Székely 2015.01.30.

Retail sales in Hungary rose by an annual 5.1% in November according to both calendar year-adjusted and unadjusted data, the Central Statistical Office (KSH) said in a second reading of data. The volume of sales rose by 2.7% in food, drinks and tobacco stores, by 6.4% in non-food retail trade and by 8.6% in automotive fuel retailing.

In November 2014, sales in the national retail trade network as well as in mail order and internet retailing increased year-on-year by HUF 33 billion to HUF 769 billion at current prices. Food, drinks and tobacco stores accounted for nearly half (45.3%) of all retail sales, while figures for non-food retail shops and the network of petrol stations were one third (36.6%) and 18.1% respectively, KSH’s report said. In food retailing, non-specialized food, drinks and tobacco stores accounted for the overwhelming majority of sales (78.9%). Sales volumes increased by 2.0% in these stores and increased by 5.6% in specialized food, beverage and tobacco stores.

The volume of sales also rose in textiles, clothing and footwear shops (13.5%), second hand goods shops (8.9%), non-specialized stores (7.2%), furniture and electrical goods stores (3.3%). The sales rose in pharmaceutical, medical goods and cosmetics shops (2.9%) as well as in books, computer equipment and other specialized stores (1.9%). As in the previous period, a growth (36.1%) continued in mail order and internet retailing involving a wide range of goods. The volume of sales in automotive fuel stations rose year-on-year by 8.6% in November.

The increase in the volume of retail sales is also expected to be also reflected in GDP growth, as in the initial three quarters of 2014 household consumption edged up by 1.6 percent year-on-year. The government now expecting growth to continue in the coming months, as bank refunds as well as the conversion and phasing out of forex loans may give additional impetus to the sector. “Steadily rising retail sales confirm the success of governmental policy aiming to leave as much money at people as possible, increase households’ savings and boost consumer confidence after the economic crisis”, Economy Ministry said in response to the KSH data.

via ksh.hu and kormany.hu photo: europark.hu


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