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Retail sales return to growth in January

In January 2024, the volume of retail trade in both raw and calendar-adjusted data was 0.6% higher than in the same month of the previous year. Calendar-adjusted sale volumes increased by 0.2% in specialized and non-specialized food shops and by 4.6% in automotive fuel retailing and decreased by 0.9% in non-food retailing. According to seasonally and calendar adjusted data, the volume of retail sales was unchanged compared to the previous month.

In January 2024, compared to the same period of the previous year, adjusted for calendar effects the volume of domestic retail sales increased by 0.6%.

The volume of sales increased by 0.2% in specialized and non-specialized food retailing. The volume of sales increased by 1.0% in non-specialized food and beverages shops accounting for 76% of food retailing and fell by 2.1% in specialized food, beverage and tobacco stores.

The turnover of non-food retailing decreased by a total of 0.9% in volume. Sales volumes rose by 8.0% in pharmaceutical, medical goods and cosmetics shops, while sales volumes decreased by 5.5% in books, computer equipment and other specialized stores, by 6.4% in non-specialized shops dealing in manufactured goods, by 8.1% in textiles, clothing and footwear shops, by 8.2% in furniture and electrical goods stores and by 8.4% in second-hand goods shops.

The volume of mail order and internet retailing accounting for 9.1% of all retail sales and involving a wide range of goods rose by 4.3%.

The volume of sales in automotive fuel stations increased by 4.6%.

Sales in motor vehicles and motor vehicle parts and accessories stores not belonging to retail data decreased by 2.3%.

In January 2024 domestic retail sales amounted to HUF 1,356 billion at current prices.

49% of the national retail turnover was generated in specialized and non-specialized food shops, 35% in non-food retail trade and 16% in automotive fuel stations.

Commenting the fresh data, the National Economy Ministry said it indicated that retail sales had passed the low point and were “in the recovery phase”.

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