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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