Thursday, Hungary's Central Statistical Office announced that the retail sales dropped 3.2% year-over-year in February, compared with a 2.8% fall in the previous month. Economists were looking a decline of 3.9%. A year ago, retail sales were down 2.1%.

On a monthly basis, retail sales fell a seasonally and calendar adjusted 0.5% in February, after falling 0.1% in January.

For the January to February period, retail sales dropped 3% compared to the same period of the previous year.

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