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Hungary's Retail Sales Decline More Than Expected In September

11/26/2012 4:08 AM ET

Hungary's retail sales declined more than expected in September, data from the Central Statistical Office showed Monday.

Retail sales fell 3.1 percent year-on-year in September, which was weaker than the 2.3 percent drop forecast by economists. In August and July, sales fell by 2.4 and 2.6 percent, respectively.

Sales of furniture and electrical goods stores fell the most by 11.3 percent and foods, drinks and tobacco sales dipped 3.7 percent.

Auto fuel sales at petrol stations fell 3.1 percent due to high fuel prices. Sales of books, computer equipment and other specialized stores decreased 2.8 percent.

In contrast, volume of sales increased for second hand goods, cosmetics articles, textiles, clothing and footwear, pharmaceutical and medical goods shops, as well as non-specialized stores.

Sequentially, retail sales declined by seasonal and calendar adjusted 0.4 percent in September. During the nine-months ended September, sales fell 1.5 percent year-on-year.

by RTT Staff Writer

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