In September 2015, the volume of retail sales grew by 5.1 percent year-on-year, and thus the sector’s positive sales trend has been in place for the 28th consecutive month. In the initial nine months of the year, the volume of sales was up by 5.9 percent year-on-year. These growth figures exceed both the EU and the Euro-zone averages.

Sales volumes increased by 3.0 percent at food- and non-specified food retailers, by 6.9 percent at non-food retailers and by 6.1 percent at filling stations, compared to the same period of the previous year.

Month-on-month data also show that consumers have adjusted shopping routines to the introduction of shopping restrictions on Sundays, as sales were higher in all three major product categories. Sales volumes rose month-on-month by 0.1 percent, 1.3 percent and 0.4 percent, respectively, at food and non-specified food retailers, non-food retailers and filling stations.

Retail sales data confirm that household spending has improved as people have turned more optimistic in terms of income prospects.

Hungarian retail sales data are remarkable even from an EU perspective: in the month of September 2015 the volume of sales was up by 3.7 percent in the EU and by 2.9 percent in the Euro-zone.

Factors such as the record-high increase in the number of people in employment, real wage growth and the forint conversion of forex loans have also contributed to the sector’s expansion. The upward retail trend is also expected to be reflected in GDP growth, as in the second quarter of 2015 household consumption grew outstandingly, by 3 percent, which has been the highest figure since the beginning of 2006.

(Ministry for National Economy)