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HUNGARY: Retail Sales Rise 4.2% y/y in March, Beating Estimates

HUNGARY
  • Retail sales rose an above-estimate 4.2% y/y in March (Est: +0.8% y/y) after rising 1.6% y/y in February, the Hungarian Statistics Office reported this morning. Sales of food, beverages and tobacco rose 5.7% y/y while sales of non-food products rose 0.6% y/y.
  • As a reminder, foreign minister Szijjarto said Monday that Hungary plans to sign at least 16 agreements with China during President Xi Jinping’s three-day visit from Wednesday. The agreements will focus on expanding the Hungarian chapter of the Belt and Road Initiative to include further rail, road and energy projects, while the sides will also review the possibility for nuclear cooperation. However, Szijjarto denied reports that Xi may announce an investment by Chinese carmaker Great Wall Motor.
  • Yesterday, prelim trade balance data for March came in at a narrower surplus of E1.51bln (Prev. E1.69bln). Both exports and imports shrank over the month, by 4.0% and 3.0% respectively. Industrial production data will cross tomorrow (Est: -0.6% y/y) while CPI data provides the highlight of the week on Friday (Est: +3.7% y/y; Prior: +3.6%).
     
CEEMEAEM BulletBulletGlobalEmerging Market NewsHungary
CEEMEAEM BulletBulletGlobalEmerging Market NewsHungary

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