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Hungary Feb. Retail Sales Fall Unexpectedly

4/24/2012 3:09 AM ET

Retail sales in Hungary declined unexpectedly in February, data from the Hungarian Central Statistical Office showed Tuesday.

Retail sales fell a calendar adjusted 1.4 percent year-on-year in February in volume terms. This confounded economists' forecast for a 0.2 percent increase following a 0.6 percent gain in January.

The decrease can mainly be attributed to a fall in sales at petrol stations as well as sales of furniture and electrical goods.

Adjusting to both seasonal and calendar effects, retail sales volume fell 0.5 percent month-on-month in February. This followed a 0.2 percent decline in sales in January.

by RTT Staff Writer

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