Hungary Retail Sales March 2008

Hungarian retail sales fell for the 14th consecutive month in March as government measures to reduce the European Union's widest budget deficit continued to sap consumer demand.

Hungarian retail sales dropped by 0.6% month on month in March, against an 0.2% fall in February, according to calendar and seasonal adjusted data from the Central Statistics Office (KSH). There was only one single months last year when the KSH reported a month on month rise. On a seasonal adjusted basis sales fell by 3.7% year on year in March (as compared with a revised -2.6% in February and -0.2% in Mar 2007).



Combined sales of cars, car parts and fuel (not a part of European statistical systems) totalled HUF 193.28 billion in March, down 2.8% year on year and contrasted with an increase of 2.6% in February. For Q1, the KSH reported a drop of 0.7% in annual terms in this category against a rise of 0.5% in Jan-Feb. Retail sale of cars and car parts declined by 4.4% year on year in March, following a 4.2% rise in February. For the Jan-Mar period the KSH detected a fall of 1.3% year on year, versus a rise of 0.5% in the first two months.