NGM: retail sales increase since nearly three years

Retail sales grow for nearly three years. The growth that lasts for 35 month may remain permanently high this year, due to, inter alia, employment expansion, the rapidly rising wages, low inflation and personal income tax reduction – the National Economy Ministry (NGM ) told on Monday, commenting the data of the Central Statistical Office (KSH).

In the first five months of the year, retail sales in Hungary grew by 5.2 percent, in May 2016 by 6.8 percent. According to the calendar effects adjusted data the increase is 5.7 percent. The growth of the Hungarian retail sales on an annual basis in May, were significantly higher than the European Union’s average of 2.8 percent – the National Economy Ministry (NGM ) wrote. (MTI)