Retail sales climb by 8.7 pc in March

Retail sales in Hungary rose by an annual 8.7 percent in March, the Central Statistical Office (KSH) said in a second reading of data released on Thursday. The figure was revised up slightly from 8.5 percent in a first reading published on May 4. Retail sales rose by 7.3 percent when adjusted for calendar year effects. Adjusted food sales were up 7.7 percent, non-food sales climbed by 7.4 percent and fuel sales rose by 5.1 percent. Analyst David Nemeth of K+H Bank told MTI he expected full-year retail sales growth to reach 5-6 percent in 2018. He attributed the strong growth figures to the low base and to Easter spending. He noted that non-food sales have been gradually slowing down since January, partly due to the high base.