In May, retail sales expanded 13.8% over the same month last year, below the 18.6% increase in April but above market expectations of a 13.1% rise. Lower sales of food as well as clothing affected the reading, as both components of the retail sales index grew at a slower pace in May. On a monthly basis, retail sales decreased a non-seasonally adjusted 1.1% over the previous month (April: +2.3% month-on-month), hence confirming the slowdown implied by the annual figures. Nevertheless, the trend suggests that retail sales remain on an expansionary path, with annual average retail sales increasing from 8.8% in April to 9.6% in May and continuing to climb from the trough of October 2009. Falling unemployment levels (May: 12.2%; April: 12.6%) help to boost retail sales, as a higher level of employment translates to a higher discretionary income that can be freely spent on goods and services. In addition, relatively low interest rates encourage consumer borrowing, further fuelling retail sales.
Growth in retail sales eases but remains strong
June 22, 2011
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Poland Economic News
October 25, 2016
The manufacturing sector business climate index decreased from 3.3 points in September to 1.0 point in October, according to the Central Statistical Office’s Business Tendency Survey (GUS-BTS).
October 25, 2016
In September, retail sales rose 4.8% over the same month last year, which was below August’s over two-year high of a 5.6% increase.
October 19, 2016
In September, industrial production expanded 3.2% over the same month last year, which was notably below the 7.5% expansion recorded in August.
October 12, 2016
According to the Central Statistical Office (GUS), consumer prices recorded flat growth over the previous month in September, which followed the 0.2% decrease recorded in August.
October 5, 2016
As anticipated by market analysts, the National Bank of Poland (NBP) decided to keep the reference rate at the record low of 1.50% at its 4–5 October monetary policy meeting.