Hungary's retail sales growth eases to 6.3% y/y in April 2014 - revised data

By bne IntelliNews June 26, 2014

Hungary's calendar-adjusted retail sales increased by 6.3% y/y in April 2014, slowing down from 8.5% y/y the month before, the statistics office said on June 25 revising down its preliminary estimate of 6.6%.

The statistics office said it had revised the retail volume indices back to July 2013 after replacing sample-based estimates on tobacco sales with comprehensive data from the state company overseeing the segment. This resulted in an increase of between 1.2pps and 2.3pps compared to the previous data releases.

Retail sales edged up by 0.1% m/m in seasonal and calendar-adjusted terms in April, easing from 0.9% m/m in March.

The annual growth was supported by a 7.5% y/y increase in food trade, a 7% y/y rise in non-food trade as well as a 3.8% y/y rise in automotive fuel sales. The latter grew for the thirteenth month in a row in April.

Within the non-food category, sales of textiles, clothing and footwear increased by 12.5% y/y. Sales in non-specialsed stores advanced by 10.2% y/y and sales of furniture and electrical goods went up 7% y/y. The turnover in cosmetics stores grew by 11.1% y/y and pharmaceutical sales advanced by 6.5% y/y. Retail trade in second-hand stores picked up by 1.6% y/y. By contrast, sales of books, computer equipment dropped by 2.2% y/y in April.

In cumulative terms, Hungary's calendar adjusted retail sales increased by 6.9% y/y in January to April 2014 driven by an 8.1% y/y increase in food trade, a 6.1% y/y rise in non-food trade as well as by a 5.9% y/y hike in automotive fuel sales.

Related Articles

Hungarian unions in full gear for first country-wide strike at Tesco stores

Union leaders are preparing for the first country-wide strike at Tesco stores in Hungary, which has unanimous support from workers, local media reported on September 4. This is just the latest in ... more

Russian development bank IIB signs off on debut Hungarian credit facility

The Moscow-based International Investment Bank (IIB) announced on August 9 that it has signed off on its debut credit facility in Hungary. The Russian-led IIB decided around five years ... more

Central Europe’s factories remain busy despite a summer lull in PMIs

Manufacturers in Central Europe reported a step back in activity and confidence in July, purchasing managers’ indices (PMI) released by IHS Markit on August 1 showed. While, the indicators still ... more