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Retail Sales Fall More Than Expected, Trade Surplus Widens in September

HUNGARY
  • Hungary's preliminary trade surplus widened to EUR1.263b in September from +EUR664.54m in August, according to the Central Statistical Office. Exports fell by an annual 5.1%, slipping for the second month in a row, while imports dropped by 19.4%, declining for the sixth month in a row.
  • Meanwhile, retail sales fell a greater-than-expected 7.3% y/y in September (Est: -7.1%), dropping for the tenth month in a row following a 7.1% y/y decline in August. September sales of food, beverages and tobacco fell 2.3% y/y. Non-food products fell 7.5% y/y.
  • Minutes of the NBH’s latest rate-setting meeting will be released at 1300GMT/1400CET. CPI data is the key release of the week on Friday (Est: +10.4% y/y; Prior: +12.2%).
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