Poland: Growth in retail sales gains speed at the beginning of 2018

Retail sales rose 8.2% from the same month a year earlier in January, accelerating from December’s 6.0% year-on-year increase. January’s acceleration was primarily driven by stronger growth in sales of motor vehicles; pharmaceuticals; and furniture, radio, TV and household appliances. On the other hand, growth in fuel sales was weaker than in the previous month.

Meanwhile, average annual growth in retail sales in January came in at 7.9%, down from December’s five-year high of 8.2%.

Poland Private Consumption Forecast

FocusEconomics Consensus Forecast panelists see private consumption growing 3.8% in 2018, which is unchanged from last month’s forecast. For 2019, the panel sees private consumption expanding 3.5%.