Hungary retail sales volume falls 7.3pc in September

It fell 7.2pc yr/yr in August, and 6.6pc in July, after a moderate 2.3pc yr/yr drop in June. Twelve-month retail sales have fallen every month since February 2007. In a month-on-month comparison, retail sales fell 0.5pc according to seasonally- and calendar-year-adjusted figures, after a 0.8pc decline in August and a deeper, 2.3pc drop in July. The steeper path followed a 5pc-point increase in the main VAT rate which took effect on July 1. January-September sales volume fell 4.4pc from the first nine months last year, after a 4.2 pc drop to August. The retail sales data include turnover of vehicle fuel from January 2009, in line with changes to revised EU statistical classifications. Retail sales, at current prices, totalled HUF 620.4bn in September – down from HUF 637.7bn in August – and amounted to HUF 5,265bn in the first nine months of the year, HUF 211bn less than a year ago. Food and FMCG sales accounted for 45pc of retail turnover in January-September. 

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