Hungary retail sales drop continues in April

The twelve-month drop came after a 0.9pc decline in March and slight rises of 0.1pc in both January and February. Retail sales rose yr/yr for the first time in July 2010 after steady drops since March 2007, but declined again in the fourth quarter of 2010. In a month-on-month comparison, retail sales dropped after a 0.5pc decline in March, no change in February and a 0.6pc increase in January. January-April sales were down 0.5pc from a year earlier. Retail sales in Hungary fell 2.3pc last year, declining for the fourth year in a row. Car and car part sales, which, in line with EU methodology, are not part of the retail statistics, fell 0.5pc in April as the decline slowed from 6.3pc yr/yr in March. Car and car part sales in January-April were down 3.4pc from a year earlier.

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