Josef hírek

2013.04.06. 21:09

Hungary retail sales fall 1.4pc in Feb - KSH

Budapest, April 4 (MTI) - February s retail sales figures are "promising under the circumstances," analysts polled by MTI said on Thursday.

Budapest, April 4 (MTI) - February s retail sales figures are "promising under the circumstances," analysts polled by MTI said on Thursday.

Hungarian retail sales in February dropped an annual 1.4 percent based on calendar year-adjusted data, compared with a decline of 2.6 percent in the previous month, the Central Statistical Office (KSH) said on Thursday.

 

The economy ministry said the data signalled improving consumer trends.

 

Gergely Suppan, senior analyst at Takarekbank, told MTI that the slower annual decline in February was better than expected. He said due to a rise in real wages and pensions this year retail sales are expected to stabilise, though at a low level.

 

Balint Torok, analyst at Buda-Cash, said "under the circumstances" the figures were promising, as the decline seen throughout last year had come to a halt. Retail sales seem to be returning to the stagnation seen in 2009-2011, he said, adding that growth was not expected in the upcoming months, as many households are still repaying loans and unemployment is high. But in light of February figures, growth could pick up in the second half of this year, he added.

 

The ministry said figures were promising and a possible sign of improvement amid unfavourable trends seen since the second half of last year. Improvement in non-food sales pulled up the retail total, it added.

 

Retail sales have contracted every month since last April.

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