Decline In Hungary’s Retail Sales Slows As Lockdown Lifted

  • 7 Jul 2020 7:09 AM
  • Hungary Matters
Decline In Hungary’s Retail Sales Slows As Lockdown Lifted
Retail sales in Hungary fell by an annual 2.8% in May, the Central Statistical Office (KSH) said.

The decline slowed from a 10.2% drop in April as a lockdown to contain the spread of the novel coronavirus was gradually lifted.

Adjusted for calendar year effects, retail sales fell by 2.1% year-on-year in May.

Adjusted food sales increased by 1.8%, non-food sales edged up 0.7% and vehicle fuel sales dropped by 13.8%. For the period January-May, retail sales rose by an unadjusted 1.4% and an adjusted 1.5%.

Adjusted food sales increased by 5.9%, non-food sales were up 1.5% and vehicle fuel sales dropped by 11.3%.

Takarékbank chief analyst Gergely Suppan said retail sales in the coming months could be lifted by a 500,000 forint bonus some 170,000 healthcare professionals got in June, and by pay rises for teachers from July. He put full-year growth at 1.2-1.5%.

ING Bank senior analyst Péter Virovácz said June retail sales could improve further as households make purchases they earlier postponed.

Related links

Pandemic Slows Hungary’s Retail Sales Growth To 4.4%

  • How does this content make you feel?

XpatLoop Media Partner

Hungary Matters

Launched in January 2014, this twice-daily newsletter covers 'everything you need to know about what’s going on in Hungary and beyond', according to its publisher the state media agency MTI. Click the title above for more info, and to subscribe.

Explore More Reports

  • Hungary’s Retail Sales Recover In June

    Hungary’s Retail Sales Recover In June

    • 6 Aug 2020 11:43 AM

    Retail sales in Hungary edged up by an annual 0.8% in June, recovering after declines in April and May, data released by the Central Statistical Office (KSH) show.

  • Hungary’s Board Game Sales Rise Online

    Hungary’s Board Game Sales Rise Online

    • 7 May 2020 8:13 AM

    Domestic companies involved in the publishing and distribution of board games were approached by origo.hu to ask whether they have seen an increase in sales of their products in recent weeks, during the closedown due to the coronavirus epidemic.

  • Pandemic Slows Hungary’s Retail Sales Growth To 4.4%

    Pandemic Slows Hungary’s Retail Sales Growth To 4.4%

    • 7 May 2020 7:51 AM

    Retail sales in Hungary grew by 4.4% in March from the same month a year earlier, slowing from a 10.9% increase in February as consumers filled their pantries but spent less on other purchases, data released by the Central Statistical Office (KSH) show.