Retail sales in Hungary slow down

04 Jul 2019

Hungary’s retail sales slowed down since April’s growth of 8.3%. Year-on-year, May has only increased by 2.6% according to the Central Statistical Office (KSH). This has been the smallest difference since February 2017. Following a strong first quarter, the latest figure brought with it some concerns. 

Most of kinds of shops have slowed down in their sales, keeping the lack of sales general. Adjusted food sales rose by 1.0%, non-food sales by 4.8%, whilst fuel sales were increased by 0.8% when compared to the same month from the previous year. 

Furthermore, clothing sales dropped by 2.1%, pharmaceutical sales were up by 2.7% and sales for second-hand goods decreased by 7.1%. Sales of books and computer equipment went down by 1.7% whereas there was an increase of 0.1% in furniture sales. 5.8% of the retail sales were online and mail order sales, having an increase of 38%. 

The slow sales of food, drinks and tobacco made up 45% of the retail sales, with non-foods being 38% and the network of petrol stations, the remaining 17%. 

Consumers look on to see whether the decline of Hungary’s retail sales will continue to affect the country’s economy, whilst hoping for a better quarter.