7/5/2016, 9:34 AM (Source: TeleTrader)
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Hungary's retail sales jump in May

The volume of sales in Hungarian shops jumped 6.8% in May. The sales were 5.7% higher compared to the same month last year when adjusted for calendar effects, according to data provided by the Hungarian Central Statistical Office (KSH).

Volume of sales rose by 4.4% in food shops, and by 6.8% in non-food retail. Automotive fuel sales jumped 9.0% mostly thanks to lower prices. Overall retail sales in the period January-May rose 5.1% compared to the same period a year ago.

The KSH also released data on balance of the general government sector: there was a surplus of 11 billion Hungarian forint (€34.67 million; $38.64 million) in the first quarter of 2016. This represents 0.1% of the gross domestic product. Revenues grew by 3.1%, with respectable 18% rise in tax revenues from enterprises. Expenditures were 4.9%, mostly due to decrease in the payments of EU transfers.

In Budapest, the BUX index edged 0.01% down to 26,265 points at 9:33, with Emasz, Any and CIG Pannonia gaining the most, while FHB, Magyar Telekom and MOL were the worst performers.

Breaking the News / ZR