In May 2015, retail sales data adjusted for calendar effects showed that sales volume increased by 5.4 percent year-on-year. Thus, the sector has been expanding for 23 months. The fact that the positive trend remained unbroken after the Sunday shopping ban had been introduced is proven by the latest report of the Hungarian Central Statistical Office and on-line cash register data.

The sales volume of the national retail network and at mail order service providers and online retailers totalled HUF 746bn in May 2015. The volume of retail sales was up by 1.4 percent at food, beverages and tobacco stores, by 9.9 percent at non-food stores and by 5.6 percent at filling stations compared to the same period of the previous year.

Thus, the Hungarian retail sales growth figure is the fourth best among the EU28. Eurostat data also show that growth was well above the EU average.

In the initial five months of the year, sales volume was 6.1 percent higher year-on-year, according to data adjusted for calendar effects. Turnover at non-food retailers grew by 0.8 percent, while it was 3.3 percent higher at food, beverages and tobacco product retailers. Sales volume was also up at second hand stores (by 15 percent), at  textiles, clothing and footwear shops, books, computer equipment and other specialized stores (both by 13%), non-specialized stores (by 6.5%), furniture and electrical goods stores (by 4.0%), as well as in pharmaceutical, medical goods and cosmetics shops (by 3.8%). The sales volume of mail order and internet retailing rose by 42%, continuing a multi-year expansion.

The Ministry for National Economy is expecting that household consumption will continue to expand significantly in the remainder of the year. Factors such as record high employment growth, increase of wages in real terms, families’ extra income due to bank refunds and increased transparency thanks to on-line cash registers will continue to underpin sales growth. Retail sales data confirm that household spending has recovered and families are more optimistic about their income outlook.

(Ministry for National Economy)