Ford drives hike in car production in Romania
1 day ago
Hungary’s retail sales increased 5.1% y/y in September, according to both raw and calendar-adjusted data, statistics office KSH said in a preliminary estimate on November 7.
The reading suggests a continued improvement in retail turnover following a slowdown to 4% in July. While the reading remains below the hefty results seen during the spring, a recovery in August and September – together with a significant increase in confidence in retail trade in October – raise hopes that strong private consumption can continue to drive GDP growth.
In specialized and non-specialized food shops, the volume of sales adjusted for calendar effects rose 3.9%. Turnover increased 5.4% in non-food retail trade and 7.7% in automotive fuel retailing. Across the first nine months of the year, the volume of sales – according to calendar-adjusted data – was 4.9% higher compared to the same period in 2015.
Retail sales are being closely watched across Central Europe due to consumption's major role in economic growth over the medium term. Analysts in Hungary forecast that rising employment, income tax reduction, net real wage growth - which pushed to 7.5% y/y in the first eight months of the year - and low inflation will continue to provide a strong base for household consumption.
Related Content
Data
Ford drives hike in car production in Romania
Romania’s automobile production increased by 7% y/y to more than 150,000 units in Q1.
Akbank launches spring syndicated loan renewals season for Turkish banks at better costs
Benefits of Turkey’s so-called economic normalisation policy clearly observed in external debt rollovers.
Ukraine's birth rate plummets to 300-year low as country’s population collapses
Ukraine’s population collapsed to 29mn souls last year, according to Ukraine Business News, with just 187,000 births recorded (including in Russian-occupied territories). This is the lowest annual figure in recorded history over the last 300 years.
Russia’s $13.4bn current account surplus in March second highest since 2007
Russia posted a $13.4bn current account surplus in March, more than double February’s $5.5bn and the second highest level for a March since 2007.
Automotive sector output in Hungary edges up 1.6% y/y in February
Headline industrial output rose 1.8% in February, increasing for the first month in about a year.
Most Read
-
Ukraine's birth rate plummets to 300-year low as country’s population collapses
2 days ago
-
COMMENT: Armenia's decisive turn towards the West
1 day ago
-
Remittances come to the rescue of Lebanon’s battered economy
1 day ago
-
US senators seek closer ties with Western Balkans to combat Russia's 'malign influence'
1 day ago
-
UBN: The US Needs to Wake Up
12 hours ago
-
Iran vs Israel: Who is better equipped for war?
6 days ago
-
Saudi Arabia to scale back plans for Neom city
9 days ago
-
BREAKING: Iraq, Syria and Jordan close airspace amid Iranian strike on Israel
6 days ago
-
PANNIER: Caspian military drills that exclude Russia and Iran have some people in Moscow asking questions
7 days ago
-
Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
5 months ago
-
Russia could pay off its entire external debt tomorrow, in cash
20 days ago
-
Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
24 days ago
-
Albanians campaign on social media to keep bus bridge created in freak accident
1 year ago
-
UBN: Russia could take the Baltic states in 48 hours
29 days ago
-
BRICS announce a blockchain-based payment system to create a common currency
22 days ago