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Preliminary Q1 GDP data shows Hungarian economy posts modest rebound
8 hours ago
Ukraine’s retail sales increased by 5.4% year-on-year in real terms in January-October, following 5.5% y/y growth in January-September, according to the nation's state statistics service Ukrstat.
In October alone, real retail sales picked up 5% y/y and 2% month-on-month in real terms. Regionally, the highest January-October retail growth occurred in Ukraine-controlled Luhansk and Donetsk (27.0% y/y and 12.9% y/y respectively) and Zakarpattia (11.4% y/y) regions.
It was slowest in the Kharkiv and Khmelnytskiy (1% y/y), as well as Chernivtsi and Odesa (1.5% y/y) regions.
Evgeniya Akhtyrko at Kyiv-based brokerage Concorde Capital wrote in a note on November 22 that during August-October, retail growth remained in the 5.4%-5.5% y/y range. Amid very weak industrial growth and uneven agricultural performance, this relatively fast growth helps to maintain overall economic growth at decent levels.
Concorde expects real retail sales will grow 6-7% y/y in 2018.
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Data
Preliminary Q1 GDP data shows Hungarian economy posts modest rebound
GDP grew 1.1% year on year in Q1 and by 1.7% when adjusted for calendar effects.
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