NGM: the growth in domestic consumption remains at the forefront of Europe

The retail sales are expanding for the eleventh consecutive month. With the almost 5 percent growth in May, Hungary has the third highest growth rate in the European Union – the Ministry of National Economy (NGM) evaluated the Wednesday published datas of the Central Statistics Office (KSH) on retail turnover in May.

According to the communication of the Ministry of National Economy (NGM), the recovery in household consumption is mainly due to the overhead reduction, the family tax benefit, the record level growing of employment, the increase in real incomes and the rising consumer confidence among others. (MTI)