Hungary - Drop in retail sales
27 Nov 2009
Retail sales volume in Hungary continued to fall at a sharp calendar year-adjusted real 7.3% rate in September year-on-year, the Central Statistics Office (KSH) said on Monday.
It fell 7.2% yr/yr in August, and 6.6% in July, after a moderate 2.3% yr/yr drop in June. Twelve-month retail sales have fallen every month since February 2007.
In a month-on-month comparison, retail sales fell 0.5% according to seasonally- and calendar-year-adjusted figures, after a 0.8% decline in August and a deeper, 2.3% drop in July. The steeper path followed a 5%-point increase in the main VAT rate which took effect on July 1.
Source: foodbizdaily.com
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