Retail sales in Hungary rose by an annual 5.8% in September, data released by the Central Statistical Office (KSH) show.
The increase accelerated from 4.6% in the previous month. Adjusted for calendar year effects, retail sales rose also by 5.8%. Adjusted food sales increased by 3.0% and non-food sales climbed 8.1%. Vehicle fuel sales rose by 8.4%.
ING Bank senior analyst Péter Virovácz said the data were “a positive surprise”. Vehicle fuel sales, climbing with the start of the school year, gave a boost to headline sales, he added.
Dániel Molnár, an analyst with economic researcher Századvég, said retail sales growth may have accelerated in part because of the low base, but the ongoing recovery of the tourism industry, higher wages and expanding employment were also contributing factors.
hungarymatters.hu
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