Retail turnover of food continues to shrink

The shrinking of retail turnover continued in July. According to a KSH report, sales were 4.2 per cent down in July 2007 compared to July of 2006 and also showed a drop of 0.4 per cent compared to the preceding month. Retail sales totalled HUF 3320 billion in the first seven months of the year, food and food-type products accounting for 50.4 per cent of the total. Sales of retail stores totalled nearly HUF 530 billion in July. Turnover of the mixed profile stores which account for 92 per cent of total sales dropped by 0.8 per cent, while that of specialised stores (tobacco, beverages, food) were down by 3.7 per cent. The retail sales of non-food products were down by 6.6 per cent compared to July 2006. According to an Eurostat estimate, retail turnover grew by 2.2 per cent in the EU-27 countries and by 0.5 per cent in the Euro zone, compared to July 2006. The largest drop in retail turnover within the EU was recorded in Belgium.