_1713940142.jpg)
Slovak unemployment inched further down to 3.88% in March
1 day ago
Hungary’s calendar-adjusted retail sales increased 5.7% y/y in May, statistics office KSH said in a preliminary estimate on July 5.
The reading shows an extended recovery in retail turnover following a sharp slowdown in January. Although May sales were below the robust 6.7% growth recorded in the previous month, growth remains robust. Retail sales in Hungary have been increasing since July 2013 on the back of a tightening labour market and resultant consumer confidence, and remain a vital driver for the economy.
At the same time, the remarkable slowdown of GDP in Q1, which recorded a 0.8% q/q contraction illustrates that consumption was not strong enough to fully counterbalance troughs in the industrial and construction sector.
The unadjusted retail sales figures show growth at 6.8% in May, compared to 5% in April. In specialized and non-specialized food shops, the volume of sales adjusted for calendar effects rose by 4.4%. Turnover increased 6.8% in non-food retail trade and 9% in automotive fuel retailing.
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 came at 7.5% y/y in the first four months of the year - and low inflation will continue to provide a strong base for household consumption in Hungary this year.
Related Content
Data
_1713874341.png)
Slovak unemployment inched further down to 3.88% in March
There were 167,493 job applicants in March, which is at its lowest level since the end of 2019.
Poland’s industrial production disappoints in March as output declines 6% y/y
Poland’s industrial production fell 6% year on year in constant prices in March (chart), after a gain of 3.3% y/y the preceding month, unadjusted data from the statistical office GUS showed on April 22.
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.
Most Read
-
Romanian consumer protection body begins investigation into Temu and Shein
1 day ago
-
Iran presses Afghanistan's Taliban to uphold water-sharing agreement
1 day ago
-
Don't mention the "D" word - Ukraine
5 days ago
-
The models are wrong, climate change is accelerating faster than predicted
13 hours ago
-
CEE recovering but no full rebound in sight, says wiiw
13 hours ago
-
Ukraine's birth rate plummets to 300-year low as country’s population collapses
8 days ago
-
EU finally boosts defence investment into arms production as Ukraine runs out of ammo
1 month ago
-
Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
8 days ago
-
Don't mention the "D" word - Ukraine
5 days ago
-
Europe unlikely to tackle Russian LNG imports anytime soon
2 days ago
-
Russia could pay off its entire external debt tomorrow, in cash
26 days ago
-
Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
30 days ago
-
Albanians campaign on social media to keep bus bridge created in freak accident
1 year ago
-
BRICS announce a blockchain-based payment system to create a common currency
28 days ago
-
Saudi Arabia to scale back plans for Neom city
15 days ago