September Data Disappoints Retailers In Hungary
- 7 Nov 2013 8:00 AM
Retail sales slowed to a 0.3% rise, year-on-year, in September, after 1.4% growth in the previous month, according to seasonally adjusted figures from the Central Statistics Office. The annual rise in fuel sales was the third largest this year, up 3.1%, helping to lift the data into positive territory.
Food sales saw a 0.4% decline, year-on-year, while sales of non-food items were flat.
Analysts expressed disappointment about the weaker-than expected growth, saying it may indicate that the surge in retail sales in April (3.2%) and May (2.2%) was due to the low base figures.
Erste Bank senior analyst Gergely Gabler noted that the reduced utility prices and low inflation have not translated into higher sales.
Source: Hungary Around the Clock
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