Financial News: Hungary Industrial Output Decline Deepens; Retail Sales Gr

Hungary Industrial Output Decline Deepens; Retail Sales Growth Improves

(RTTNews) - Hungary's industrial production continued its declining trend in June, while retail sales expanded at an accelerated pace, preliminary figures from the Hungarian Central Statistical Office showed on Wednesday.

The volume of industrial production dropped a working-day-adjusted 4.9 percent yearly in June, faster than the 2.4 percent fall a month ago.

Among sub-sectors, the largest increase was seen in the manufacture of food products, beverages, and tobacco products, and computers, electronics, and optical products, as well as electrical equipment, while the manufacture of transport equipment significantly fell, the agency said.

On a monthly basis, industrial production fell 1.2 percent, following a 1.1 percent decline in the previous month.

On an adjusted basis, industrial production also fell the same 4.9 percent in June compared to last year.

Retail sales rose 3.0 percent year-over-year in June versus a 2.1 percent growth in the prior month.

Sales volumes increased by 4.9 percent in non-specialized food and beverage shops and by 3.9 percent in non-food retailing.

Sales via mail order and the internet, which account for 8.3 percent of total retail sales, increased 9.2 percent from last year.

On a monthly basis, retail sales climbed 0.5 percent on a seasonally and working-day-adjusted basis.

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