Poland: Retail sales growth gains steam in July
Latest reading: Retail sales expanded 5.0% in year-on-year terms in July, which was above June’s 2.2% increase and market expectations of a softer acceleration. Sales of motor vehicles, motorcycles and parts, textiles, clothing and footwear and furniture, radio, TV and household appliances all accelerating. Meanwhile, fuel sales lost steam, while food, beverages and tobacco sales fell at a softer pace than in June.
On a monthly basis, retail sales were stable in seasonally adjusted terms in July, which was below June’s 0.7% expansion. Meanwhile, annual average growth of retail sales was unchanged at June’s 3.0% in July.
Panelist insight: ING’s Adam Antoniak commented:
“The July sales report is consistent with our hypothesis and suggests that at the beginning of 3Q25, households’ propensity to spend was solid and private consumption should remain the key driver of GDP growth. In 2025, we still forecast economic growth in Poland […] well above the expansion expected in other CEE economies.”