Decreasing retail sales in October

According to calendar adjusted data, the volume of retail sales decreased by 1.4% in October, and by 1.9% in the first ten months of 2008 compared to the same period of the previous year.

 In the first ten months of 2008,
domestic retail turnover (including retail sale via mail order houses) was HUF 5115 billion, out of
this a turnover of HUF 567 billion was generated in October. In the
first ten months of 2008, specialized and non-specialized food,
beverages and tobacco (52%), furniture and household goods (19%),
book, newspaper and other (11%) stores played a major role in
retailing.

The volume of retail sales in
specialized and non-specialized food, beverages and tobacco stores decreased by 1.3% in the first
ten months of 2008 and by 0.3% in October compared to the same period
of the previous year. Sales volumes for non-specialized stores
(hyper-, supermarkets, groceries) – having a major, 91% market
share – declined by 0.5% and for specialized food, beverages and
tobacco stores increased by 2.4%. In October, according to seasonally
and calendar adjusted data, sales volumes for food, beverages and
tobacco stores remained unchanged compared to September.

The turnover of non-food retail trade –
at constant prices – was down by 2.4% in the first ten months of 2008 and by 2.3% in October
compared to the same period of the previous year. In October, retail
sales volumes fell in non-specialized stores and in books, newspaper
and other specialized stores as well as in furniture and household
goods stores compared with October 2007. Sales volumes in all other
activity groups grew, sales in second-hand stores, accounting for a
small proportion of total sales, increased at the highest rate
compared with the same period a year earlier. According to seasonally
and calendar adjusted data, at constant prices, sales in non-food
retailing were 0.2% lower than in September.

According to a Eurostat first estimate
– based on seasonally and calendar adjusted data –, in October 2008, the fall of retail sales
continued in the European Union. The rate of decline was 0.8% on average in the 27 member states of
the European Union and 2.1% in the Eurozone compared to the same
month a year ago. The highest increase was still observed in Romania
(9.4%), while the largest decrease was in Latvia (14.4%).

Sales volume for motor vehicles and
motor vehicle parts and accessories stores – not regarded as retailing by the European
Statistical System – in Hungary fell by 4.9% in the first ten
months of 2008 and by 9.9 % in October compared to the same period a
year ago. At constant prices, the retail trade turnover of automotive
fuel was unchanged in the first ten months of 2008 and decreased by
1.1% in October compared to the same period a year ago.