Hungarian Retail Sales Soar In March – But Strong Performance Is Likely To Be An Anomaly

2022. május 04.

ING Think

Hungarian retail sales rose remarkably in March 2022. The growth of turnover adjusted for calendar effects came in at 16.2% year-on-year. This double-digit growth is partly due to last year’s low base, but the 7.3% increase on a monthly basis indicates that this is more than just a base effect. In fact, the month-on-month growth rate in March 2022 was even higher than the monthly increase we saw in May 2020, after the full Covid-lockdown was lifted.