Hungarians keep buying less: retail sales plummet

Retail sales in Hungary dropped by an annual 7.8% in September, dropping for the tenth month in a row, the Central Statistical Office (KSH) said on Wednesday.

According to the latest data from the Hungarian Central Statistical Office (KSH), retail sales are still struggling. So far this year, sales are almost a tenth lower than a year ago. Petrol stations are suffering the biggest drop, Economx writes.

The volume of retail sales fell by 7.3% in September compared to the same period of the previous year, while it was essentially unchanged compared to the previous month, the KSH said.

According to the flash release, the volume of retail sales in September decreased by 7.8% in raw data and by 7.3% in calendar-adjusted data, compared with the same period of the previous year.

Calendar-adjusted sales volumes were

down by 2.3% in food and grocery retail, 7.5% in non-food retail and 19.9% in fuel retail.

According to KSH data, the volume of retail sales was 9.3% lower in January-September this year compared to the same period last year, adjusted for calendar effects. Sales volumes fell by 6.1% in food retailing, 7.3% in non-food retailing and 21.1% in fuel retailing.

Did you know that the Hungarian democracy is in shambles? Read our report HERE.

It’s not only retail that is in danger: Hungary’s restaurant industry also faces another year of uncertainty.

Source: