Poland: Growth in retail sales decelerates in June
July 23, 2014
In June, retail sales increased 1.2% over the same month last year. The increase was below the 3.8% expansion tallied in May and marked the weakest expansion since May of last year. Moreover, the result undershot market expectations of a 4.0% increase. The deceleration was mainly driven by weaker sales of textiles, clothing and footwear, and motor vehicles and gasoline.
Despite the slowdown, annual average growth in retail sales was stable at May’s 4.4% in June. Average growth in retail sales has been on a steady upward trend after hitting a record low in August of last year.
Author: Carl Kelly, Economist