Retail sales in Hungary advanced 5.8 percent over a year earlier in August 2019, easing from a 6.4 percent gain in the previous month. Sales went up at a softer pace for food, drinks and tobacco (3.4 percent from 4.5 percent in July) and automotive fuel (4.3 percent from 5.2 percent). On the other hand, sales of non-food products increased further (9.8 percent from 9.1 percent). In the first eight months of the year, retail trade rose 5.8 percent over a year ago. Retail Sales YoY in Hungary averaged -0.10 percent from 1989 until 2019, reaching an all time high of 17.10 percent in December of 1998 and a record low of -43 percent in November of 1991.
Retail Sales YoY in Hungary is expected to be 6.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Retail Sales YoY in Hungary to stand at 3.50 in 12 months time. In the long-term, the Hungary Retail Sales YoY is projected to trend around 3.10 percent in 2020, according to our econometric models.