Retail sales continue to decline

The volume of retail sales was down by 1.9 percent in the first ten months of 2008, compared to the same period in 2007. A drop of 0.1 percent compared to the preceding month was recorded in October. Retail sales totalled HUF 5115 billion in the above period. Food sales accounted for 52 percent of total retail sales. Total sales of food retail units were down by 1.3 percent. In October, a month on month drop of 0.3 percent was recorded, composed of a 0.5 percent drop in sales recorded by general stores and a 2.4 percent growth in sales of specialised stores. Sales in the non-food sector were down by 2.4 percent in the above period, with a 0.2 percent month on month drop recorded in October. The most substantial growth was recorded in the retail of second hand articles.