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Financial News: Hungary Retail Sales Fall For Second Month

Hungary Retail Sales Fall For Second Month

07/06/2020 - 08:04:00 (RTTNews)

(RTTNews) - Hungary's retail sales fell for a second straight month in May despite an easing of the Covid-19-linked restrictions, figures from the Hungarian Central Statistical Office showed on Monday.

Retail sales dropped by a calendar-adjusted 2.1 percent year-on-year in May, after a 10.2 percent decrease in April. In March, sales grew 3.6 percent.

The Covid-19 restrictions on the opening hours of retail stores were eased in the countryside from the beginning of May and in Budapest and Pest county from the middle of May, mainly influencing the turnover of non-food retail shops, the agency said.

Sales of food products increased 1.8 percent annually in May and sales of non-food products rose 0.7 percent.

Meanwhile, sales of automotive fuels declined 13.8 percent.

The volume of mail order and internet retailing, which accounted for 9.3 percent of all retail sales and involved a wide range of goods, surged by 59 percent yearly in May, continuing a multi-year expansion, the agency said.

On a non-adjusted basis, retail sales declined 2.8 percent annually in May, following a 10.2 percent decrease in the previous month.

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