Retail Sales Increase 4.3% In April

  • 7 Jun 2018 7:28 AM
  • Budapest Business Journal
Retail Sales Increase 4.3% In April
Retail sales in Hungary rose 4.3% year-on-year in April, the Central Statistical Office (KSH) said in a first reading of data on Tuesday. Growth slowed from 8.7% in the previous month, when spending rose in the run-up to the Easter holiday.

In April 2018, the volume of sales in retail shops increased by 4.3% according to raw data and, mainly due to the Easter effect, by 6.0% adjusted for calendar effects compared to the same month of the previous year.

The volume of sales, adjusted for calendar effects, rose by 2.6% in specialized and non-specialized food shops, by 9.2% in non-food retail shops, and by 8.6% in automotive fuel retail.

In January–April 2018, the volume of sales – also according to calendar-adjusted data – was 6.9% higher than in the corresponding four-month period of the previous year. Within this, the volume of sales, adjusted for calendar effects, rose by 4.6% in specialized and non-specialized food shops, by 9.4% in non-food retail shops, and by 7.9% in automotive fuel retail.

Commenting to state news wire MTI, K&H Bank analyst Dávid Németh called it a positive sign that higher prices had not caused a drastic slowdown in vehicle fuel sales. He put full-year retail sales growth at 5-6%.

The KSH will publish a second reading of April retail data on June 22.
 

Retail e-sales expand 27% in 2017

Hungarian domestic online retail sales, net of taxes, expanded by 27% to HUF 545 billion in 2017, internet research and consulting firm eNET told state news wire MTI in a separate report Tuesday.

E-sales rose to 6.2% of all Hungarian retail sales last year, the report added.

Hungarian online buyers spent about HUF 400 bln in foreign web stores, eNET estimated. The number of Hungarians shopping in foreign web stores rose by 1.5 million in two years to 2.7 mln, it added.

Hungarians still prefer delivery through courier services and payment on receipt and by cash, said eNET. In terms of value, 73% of orders were posted by express delivery, including delivery by the web stores, last year, with 47% of payments being made in cash and 10% by bank card on receipt.

 

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Budapest Business Journal

Hungary's largest and oldest source of business and financial news in English. Since 1992 it has presented essential information on Hungarian business life, including international analyses about the country. These days the BBJ newspaper is published every other week, while it releases daily business news online including premium paid content.

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