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Retail Sales Fall 12.6% y/y, Missing Expectations

HUNGARY
  • Hungary’s retail trade fell 12.6% y/y (Est: -10.6%) in April versus a revised -13.2% in March, marking the fifth consecutive month of contraction, data released this morning showed. Adjusted food sales fell 8.6%, non-food sales dropped 10.7% and vehicle fuel sales were 22.9% lower. Retail sales fell in all categories except in drugstores and pharmacies – which saw a 5.4% increase.
  • Prime Minister Viktor Orban held talks with Jin Liqun, the president of the Asian Infrastructure Investment Bank, the PM's press chief said as per MTI. Orban and Jin were in agreement that Hungary's policy of opening up to the East was now bearing fruit, with the highest amount of FDI coming from Chinese, South Korean and Japanese businesses.
  • MTI report that additional groundwork will soon begin to prepare the site for the expansion of Hungary's Paks nuclear power plant, Foreign Minister Peter Szijjarto said after talks with Alexey Likhachev, the chief executive of Rosatom.
  • Foreign Minister Peter Szijjarto is scheduled to speak about Ukraine at a conference in Budapest later this morning at 0845BST/0945CET. There are no other notable speaker events or data releases scheduled today.
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