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.

Related Articles

Hungarian retail investors continue to pile into domestic government bonds

The stock of government bonds held by households rose by HUF154bn (€500mn) September to an all-time high of HUF6.5 trillion, Hungary’s Government Debt Management Agency (AKK) said on October 16. ... more

Hungary to issue euro bonds after six years

Hungary’s Government Debt Management Agency AKK announced on September 26 that it plans to issue 10-year Eurobonds to refinance high-interest dollar bonds maturing soon. The agency mandated BNP ... more

South Africa’s NEPI acquires shopping malls in Hungary, Bulgaria for €528mn

South African fund NEPI Rockastle said it has acquired two new shopping centres – in Hungary and Bulgaria – for a combined €528mn. The fund, which purchased another shopping centre in ... more