Retail Sales Up 8.5% In Hungary In April

  • 6 Jun 2019 7:22 AM
  • Hungary Matters
Retail Sales Up 8.5% In Hungary In April
Retail sales in Hungary grew by 8.5% in April from the same month a year earlier, accelerating from 4.9% in March, the Central Statistical Office (KSH) said.

Calendar-adjusted data show retail sales were up an annual 7.1% in April. The Easter holidays account for most of the difference between the adjusted and unadjusted figures.

Adjusted food sales were up 4.7%, non-food sales grew by 6.6% and fuel sales by 5.5%. In January-April, both unadjusted and calendar year-adjusted retail sales rose by an annual 6.8%.

Adjusted food sales increased by 3.6%, non-food sales by 9.5% and fuel sales by 10.1%.

Gergely Suppan, an analyst of Takarékbank, told MTI that he expected retail sales growth to slow to 5.7% in the full year 2019 after 6.5% last year.

Orsolya Nyeste of Erste Bank said the strong April data suggested household consumption will remain a key driver of economic growth in the longer run.

Péter Virovácz of ING Bank forecast retail sales growth of around 7% for the full year.

Dávid Németh of K&H Bank predicted retail sales growth averaging 5.5% this year.

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