Retail Sales Growth Picks Up To 5.8% In August
- 6 Oct 2016 9:00 AM
Retail sales growth in Hungary accelerated to an annual 5.8 percent in August after a temporary slowdown to 2.9 percent in July, the Central Statistical Office (KSH) said on Wednesday. Adjusted for calendar-year effects, retail sales rose by 4.3 percent in August, picking up from a 3.9 percent increase in July. Adjusted food sales rose by 2.8 percent, non-food sales climbed by 6.1 percent and fuel sales rose by 7.5 percent.
Adjusted food sales rose by 2.8 percent, non-food sales climbed by 6.1 percent and fuel sales rose by 7.5 percent.
For January-August, unadjusted retail sales rose by 5.0 percent and adjusted sales increased by 4.9 percent.
Food sales rose by 2.7 percent, non-food sales increased by 7.8 percent and fuel sales were up 5.5 percent during the period.
K+H Bank senior analyst Dávid Németh said the increase was supported by expanding employment and higher real wages.
Erste Bank chief analyst Gergely Urmossy said full-year retail sales growth could exceed 5 percent.
Republished with permission of Hungary Matters, MTI’s daily newsletter.
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