Retail sales in Hungary grew by 8.5% in April from the same month a year earlier, accelerating from 4.9% in March, the Central Statistical Office (KSH) said. Calendar-adjusted data show retail sales were up an annual 7.1% in April. The Easter holidays account for most of the difference between the adjusted and unadjusted figures. Adjusted food sales were up 4.7%, non-food sales grew by 6.6% and fuel sales by 5.5%.
In January-April, both unadjusted and calendar year-adjusted retail sales rose by an annual 6.8%. Adjusted food sales increased by 3.6%, non-food sales by 9.5% and fuel sales by 10.1%.
Gergely Suppan, an analyst of Takarékbank, told MTI that he expected retail sales growth to slow to 5.7% in the full year 2019 after 6.5% last year. Orsolya Nyeste of Erste Bank said the strong April data suggested household consumption will remain a key driver of economic growth in the longer run. Péter Virovácz of ING Bank forecast retail sales growth of around 7% for the full year. Dávid Németh of K&H Bank predicted retail sales growth averaging 5.5% this year.