Retail Sales Decline for Second Month
7 Articles
7 Articles
In August, the volume of retail trade decreased by 0.7 percent month-on-month, which is the second consecutive monthly decline. At the same time, the sector showed an annual growth of 2.4 percent, with the largest increase of 12 percent in mail-order and online trade. According to the Central Statistical Office (KSH), retail trade is permanently lagging behind the growth of household consumption, which experts say indicates a structural transfor…
Trust in the Tisza government is declining, and this is already evident in several areas.
In August, the volume of retail sales was 2.4 percent higher than a year earlier, while KSH recorded a 0.7 percent decrease compared to July. Growth was mainly driven by non-food stores, online commerce and fuel turnover, while sales volumes in grocery stores barely increased.
People spent 4.8 percent less money in Hungarian food, beverage and tobacco stores in August than in the eighth month of last year. The turnover of second-hand stores also decreased by the end of the summer.
At least compared to August last year. However, it has fallen slightly compared to July this year.
The shopping mood came to a standstill in August: according to the latest flash report from the Central Statistical Office (KSH), retail sales fell by 0.7 percent compared to the previous month, while exceeding the same period of the previous year by 2.4 percent.
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