Poland Retail April 2020

Poland

Poland: Retail sales contract at sharpest pace on record in April

May 25, 2020

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.

FocusEconomics Consensus Forecast panelists see private consumption decreasing 3.8% in 2020, which is down 1.9 percentage points from last month’s forecast. For 2021, the panel sees private consumption expanding 4.8%.


Author: Massimo Bassetti, Economist

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Poland Retail Chart


Poland Retail April 20 20

Note: Year-on-year and annual average variation in %.
Source: Central Statistical Office (GUS) and FocusEconomics calculations.


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