Retail keeps shrinking

Retail sales continued to fall in October, informs KSH’s quick report. Volume sales of retail stores were down by 4.7 percent in the first t en months of 2009 and by 7.5 percent in October, compared to the same period in 2008. According to KSH’s report, the domestic retail network and mail order companies generated sales of HUF 5,907 billion in the first ten months, of which HUF 641 billion was realised in October. Food and food type products represented 45 percent of retail sales; the turnover of food stores decreased by 3.7 percent in the first ten months of 2009 and by 5.5 percent in October. In October 2009, hypermarkets, supermarkets and small shops (which represent 91 percent of sales) sold 5.5 percent less, in terms of volume, compared with October 2008. Non-food retail sales decreased by 8.1 percent in the first ten months and by 12.3 percent in October.