GfK: retail sales increased in Europe, declined in Hungary this year

The GfK market research institute lists Ireland, Portugal, Spain Italy, and Hungary among those countries, where retail sales will reduce this year, because of the debt crisis and the austerity measures.

According to the joint study of the Austrian GfK GeoMarketing and the European Shopping Centre Trust (ESCT) the highest degree of decline (15 percent) will occur in Greece this year after last year's 7 percent shrinkage.

The study among other things concludes, that the despite the debt crisis the incomes disposable for consumption in the 27 EU countries will increase to 8.5 thousand billion, which is a 2.6 percent increase, compared to a year earlier. While in the euro area countries, the increase was smaller, in the recently joined countries, and in countries that are waiting for the EU accession purchasing power increased more than the average. (MTI, vallalkozoinegyed.hu)