In the initial seven months of 2012 sales of food, beverages and tobacco products increased by 0.2 percent on an annualized basis. In the seventh month of the year, after growth in the previous month, this retail sub sector however recorded a turnover decline of 2.4 percent compared to the corresponding period of the previous year.

In July the 2.6 percent annualized decline of retail sales was primarily the consequence of the lower sales volume of furniture and electrical goods. The network of domestic retail stores as well as mail order and internet retail services providers registered turnover of 731bn HUF and 4 524bn HUF in July 2012 and in the initial seven months of the year, respectively.

After the increase in the previous month, retail sales at stores of food, beverages and tobacco products, which comprise the 45.3 percent of total sales volume, were down by 2.4 percent compared to the corresponding period of the previous year. With regard to the initial seven months of the year, however, their turnover was up by 0.2 percent in comparison to last year’s figure.

In the seventh month of the year, turnover at non-food retail stores declined by 2.5 percent, a substantially more muted decrease than the 4.2 percent of the previous month. This amounts to an aggregate decline of 2.1 percent for the initial seven months. Mail order and internet sales continued to generate a dynamically growing turnover: the volume of sales at this sub sector increased by 27.1 percent in July compared to the same period of the previous year. Turnover was also higher at stores of cosmetics articles (+6.1 percent) and pharmaceutical and medical goods (+0.3 percent).

Sales at filling stations continue to be lower compared to the figure of the corresponding period last year. In July turnover was down by 2 percent, while regarding the entire seven-month period of this year it declined by 2.8 percent.

According to currently available data of the Eurostat, retail turnover declined in 10 countries of the EU in July, whereas growth was registered in 11 states and stagnation in one of them. Average decline in the euro-zone was 1.7 percent, while regarding the EU 27 average sales were lower by 0.2 percent. The decline of domestic retail sales in July, compared to the same period of the previous year, was in line with regional tendencies, as in this period retail turnover was down by 2.2 percent in Austria, 2 percent in Slovakia and 1.9 percent in Slovenia.

(Ministry for National Economy)