Hungary's retail sales growth eases to 2.5% y/y in July - revised data

By bne IntelliNews September 25, 2014

Hungary's calendar-adjusted retail sales increased by 2.5% y/y in July 2014, easing from 4.1% y/y the month before, the statistics office said on September 24 revising up its preliminary estimate of 2.3% y/y.

Retail sales edged down by 0.1% m/m in seasonal and calendar-adjusted terms in July, following a 0.3% m/m drop in June.

The annual growth was supported by a 1.5% y/y increase in food trade, a 3.3% y/y rise in non-food trade as well as by a 3.4% y/y rise in automotive fuel sales. The latter grew for the 16th month in a row in July.

Within the non-food category, sales of textiles, clothing and footwear increased by 10.9% y/y. Sales in non-specialsed stores advanced by 7.7% y/y and sales of cosmetics grew by 9.6% y/y. Pharmaceutical sales edged up 0.2% y/y. Retail trade in second-hand stores went up by 14.8% y/y in the month.

By contrast, sales of books and computer equipment dropped by 1.3% y/y in July and sales of furniture and electrical goods fell by 4.2% y/y.

In cumulative terms, Hungary's calendar adjusted retail sales increased by 5.6% y/y in January to July 2014 driven by a 6.9% y/y increase in food trade, a 4.5% y/y rise in non-food trade as well as by a 4.6% y/y hike in automotive fuel sales.

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