Poland: Growth in retail sales moderates in August
September 23, 2014
In August, retail sales expanded 1.7% over the same month last year. The expansion was below the 2.1% increase tallied in July, but beat market expectations of a 1.4% rise. The slower growth was mainly driven by weaker sales of motor vehicles and pharmaceuticals, and at non-specialized miscellaneous retailers. In contrast, sales of clothing and footwear as well as furniture and household appliances increased.
Annual average growth in retail sales fell slightly from 4.2% in July to 4.1% in August. Average growth in retail sales has been on a soft downward trend since May.
Author: Carl Kelly, Economist