May 20th, 2009

Ecostat expects retail sales to fall in autumn as austerity bites

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Ecostat sees Hungary’s retail turnover stagnating for the next several months before falling again from August with the introduction of new austerity measures, the research arm of the Central Statistics Office (KSH) said in its fresh Mikroszkop report on Tuesday.

Ecostat projects retail sales will fall 3.2pc in September from the same month a year earlier.

In the same month, Ecostat sees gross wages rising 1.9pc as public sector wages fall 3pc but private sector wages climb 4pc.

Ecostat forecasts a 6.7pc drop in domestic industrial sales, a 17pc plunge in industrial export sales and a 14.3pc fall in industrial output in September.

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