Negative trend in Hungary's retail sector persists, sales down 1.3% y/y in July.

By bne IntelliNews September 22, 2011
Hungary's retail sales recorded a second consecutive month of decline, falling by 1.3% y/y in calendar adjusted terms to HUF 700bn (EUR 2.39bn) in July 2011, after inching down by 0.5% in the previous month, the statistics office reported. In monthly terms, sales declined by a seasonally and calendar adjusted 0.3% in July, following a 0.5% drop in June. In accumulated terms, the total retail sales volume reached HUF 4.278tn in the January-July period. In July alone, the deterioration in the sector came on back of worse performance in all kinds of stores, as the volume of sales in non-specialised and specialised food, beverages and tobacco stores declined by 1.8% y/y. At the same time, retail trade in all non-food stores dropped by 0.3%. Textiles, clothing and footwear sales decreased by 10.2% y/y and sales of furniture and household goods fell at a decelerating pace of 2.5% y/y. In another classification, sales in books, newspapers and other specialised stores and cosmetics and pharmaceutical shops, however, kept their increase from the past months. The sales volumes of filling stations dropped by 2% compared to the low base a year earlier.
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