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HUNGARY: Retail Sales, Trade Balance Data for August Both Above Expectations

HUNGARY
CEEMEAEM BulletBulletGlobalEmerging Market NewsHungaryRegion
  • Hungary's preliminary trade surplus widened to EUR671m in August from +EUR167m in July (Est: +EUR250m), according to the Central Statistical Office. Meanwhile, retail sales rose 4.1% y/y following a +2.5% y/y rise in July (Est: +2.8%).
  • Both sets of data will help alleviate concerns that the economy is heading for a contraction,despite data last week showing Hungary’s industrial production dropped for a sixth consecutive month. In Q2, GDP fell 0.2% on a quarter-on-quarter basis due to weakness in consumption and industry. Preliminary figures for Q3 will be released at the end of the month.
  • Separately, Bloomberg report that thousands of Hungarians gathered in Budapest to protest Prime Minister Viktor Orban’s propaganda networks over the weekend. The rally was organised by Peter Magyar, who before the demonstration published a list of demands that included a return to objective editorial standards and the dismissal of current executives at government-run media companies.
  • Looking ahead to later in the week, CPI data for September is the key release on Thursday, where analysts are expecting a fall in the headline figure from +3.4% y/y to +3.1%.
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  • Hungary's preliminary trade surplus widened to EUR671m in August from +EUR167m in July (Est: +EUR250m), according to the Central Statistical Office. Meanwhile, retail sales rose 4.1% y/y following a +2.5% y/y rise in July (Est: +2.8%).
  • Both sets of data will help alleviate concerns that the economy is heading for a contraction,despite data last week showing Hungary’s industrial production dropped for a sixth consecutive month. In Q2, GDP fell 0.2% on a quarter-on-quarter basis due to weakness in consumption and industry. Preliminary figures for Q3 will be released at the end of the month.
  • Separately, Bloomberg report that thousands of Hungarians gathered in Budapest to protest Prime Minister Viktor Orban’s propaganda networks over the weekend. The rally was organised by Peter Magyar, who before the demonstration published a list of demands that included a return to objective editorial standards and the dismissal of current executives at government-run media companies.
  • Looking ahead to later in the week, CPI data for September is the key release on Thursday, where analysts are expecting a fall in the headline figure from +3.4% y/y to +3.1%.