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Retail Sales Fall 7.1% Y/Y, Missing Expectations

HUNGARY
  • Retail Trade fell 7.1% y/y (Est: -5.7%) in August versus -7.6% in July, according to the Central Statistical Office. A detailed breakdown of the data shows adjusted retail sales fell in all types of shops, with the exception of drugstores and pharmacies. Month on month, retail sales fell by an adjusted 0.5%.
  • Hungary's economic outlook is positive regardless of the poor European environment, the minister of foreign affairs and trade said on Tuesday as per MTI, hailing the government's strategy to make the country a meeting point for Eastern and Western investors.
  • There are no major releases left on the docket today. Industrial Production (Est: -2.9% y/y) will cross on Friday.

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