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Retail sales down 7 percent in August

Retail sales in Hungary fell by an annual 7.0 percent in August, dropping for the ninth month in a row, the Central Statistical Office (KSH) said on Wednesday.

Sales fell by an annual 7.1 percent, adjusted for calendar year effects.

Adjusted food sales dropped by 4.0 percent, non-food sales by 5.2 percent, and vehicle fuel sales were 18.1 percent lower.

Month on month, retail sales fell by an adjusted 0.5 percent.

In absolute terms, sales totalled 1,594 billion forints in August. Food sales accounted for 48 percent of the total, non-food sales for 34 percent, and sales at petrol stations for 18 percent.

In the Jan-Aug period, retail sales dropped by an unadjusted 9.5 percent and an adjusted 9.6 percent year on year. Adjusted food sales fell by 6.6 percent, non-food sales dropped 7.3 percent and vehicle fuel sales were down 21.3 percent.

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