Retail sales climb 5.4 pc in September

Retail sales in Hungary rose by an annual 5.4 percent in September, the Central Statistical Office (KSH) said in a first reading of data released on Tuesday.

Sales growth accelerated from 4.2 percent in July and 4.7 percent in August.

The September increase was 6.0 percent when adjusted for calendar-year effects.

Adjusted food sales were up 2.7 percent, non-food sales jumped by 12.5 percent and fuel sales dropped by 0.5 percent.

For the period January-September, retail sales rose by an unadjusted 4.2 percent and an adjusted 4.3 percent annually. Adjusted food sales were up 2.4 percent, non-food sales grew by 7.5 percent and fuel sales rose by 2.8 percent.

Commenting on the data, Gyula Pomázi, deputy state secretary of the economy ministry, noted that retail sales have been increasing for 51 months in a row.

The trend was driven by the growth of net wages and the growing confidence index.