Poland: Retail sales contract at sharpest pace on record in April
Retail sales nosedived 22.6% year-on-year in April amid lockdown (March: -7.0% yoy), marking the steepest fall on record.
Looking at the details of the release, the plunge came on the back of freefalling sales of motor vehicles, motorcycles and parts; textiles, clothing and footwear; and of solid, liquid and gaseous fuel.
On average, retail sales grew 3.0% in April, which was notably below March’s 6.0% expansion. The reading marked the worst result since August 2016.