The volume of retail sales grew by 4.4% year on year in Hungary in November 2015, according to calendar-adjusted data. This is the slowest growth rate of the past 15 months.
Adjusted for calendar effects, the volume of sales rose by 2.5% in food, drinks and tobacco stores, by 6.9% in non-food retail trade and by 4.7% in automotive fuel retailing. Although growth remains unbroken, the rate has subsided relative to the preceding months.
The low figures may also have to do with the fact that the whitening impact stemming from the implementation of online cash registers is slowly dropping out of the yr/yr indices.
Another oddity is that the weight of online retail sales is still so low that even Black Friday (which reportedly gave a boost to purchases) failed to drive the aggregate figures higher. In view of the trends drawn up by data from the previous years, online trade made up about 2.5.-3.0% of the total sales volume, and this was so feeble that it was unable to boost even non-food sales. A detailed retail sales report to be published on 25 January will tell us how exactly online sales revved up at the end of last year.
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