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Hungary Jan. Retail Sales Growth Exceeds Forecast

Hungary's retail sales increased more than economists expected in January, data released by the Central Statistical Office showed Monday.

Retail sales volume increased a seasonally and calendar-adjusted 0.6 percent year-on-year in January, faster than the 0.1 percent growth economists forecast. The rate of growth was, however, slower than the 1.6 percent rise seen in December, which was revised up from 1.5 percent.

Retail sales of food, beverages and tobacco rose 1.1 percent annually, while sales of non-food products advanced 2 percent. There was an 8.4 percent year-on-year rise in clothing and footwear sales during the month, and a 2.2 percent decline in sales of automotive fuel.

On a monthly basis, retail sales decreased a seasonally adjusted 0.2 percent in January, reversing the previous month's 0.1 percent increase, the agency said.

by RTTNews Staff Writer

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