Retail turnover decreased drastically by 7.1%

By: Trademagazin Date: 2023. 10. 04. 13:08

In August, the volume of retail trade fell short of expectations by 7% according to raw data, and by 7.1% adjusted for calendar effects. Sales revenue rose by 7.8% to HUF 1,594 billion due to high inflation. Compared to the previous month, retail turnover decreased by 0.5%. In the first eight months, the volume of retail trade decreased by 9.6% – we can read in the retail analysis of Gergely Suppan, MBH Bank’s leading analyst.

In food and food-type mixed retail stores, turnover decreased by 4%, in non-food retail stores by 5.2%, and in fuel retail by 18.1%, the volume of sales volume adjusted for the calendar effect. Calculated without fuel traffic, the decline in traffic was 4.5%. However, the decrease in fuel turnover can significantly reduce the import of crude oil and oil products, contributing to the improvement of the external balance.

The volume of sales in pharmaceutical, medical product, and perfume stores increased by 4.8%, in contrast, by 1% in second-hand goods stores, by 7.8% in textile, clothing, and footwear stores, , decreased by 6% in other industrial goods stores, by 10.7% in mixed industrial goods stores, and by 15.1% in furniture and technical goods stores. The volume of mail-order and internet retailing, which covers a wide range of goods and accounts for 7.3% of the retail turnover, essentially did not change. Compared to the average of 2015, retail turnover increased by 24.4% and compared to 2010 by 36.8%.