Hungary December Retail Trade Shrinks Less Than Expected

Hungarian retail trade dropped less than economists expected in December as Internet-based and parcel-delivery sales jumped.

Retail sales fell 2.1 percent from a year earlier, the statistics office in Budapest said today in an e-mailed report. The median estimate of 12 economists surveyed by Bloomberg was for a 3.9 percent drop.

Hungary entered its second recession in four years in 2012, with gross domestic product expected to shrink 0.1 percent this year, the European Commission said on Feb. 22. Prime Minister Viktor Orban’s government has said that 2013 will be marked by a “growth turnaround.”

To contact the reporter on this story: Andras Gergely in Budapest at agergely@bloomberg.net

To contact the editor responsible for this story: Wojciech Moskwa at wmoskwa@bloomberg.net

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