Poland: Retail sales drop at sharpest rate since May in November
December 21, 2020
Retail sales sank 5.3% compared to the same month a year earlier in November, which was a larger contraction than October's 2.1% decrease. The figure marked the worst reading since May. Looking at the details of the release, November's drop was largely driven by a fall in motor vehicles, motorcycles and parts sales. In addition, sales also contracted in both the textiles, clothing and footwear, and furniture, radio, tv and household appliances sub-sectors.
Meanwhile, the trend pointed down, with the annual average variation of retail sales coming in at minus 1.6% in November, down from October's minus 0.6%.
Author: Hanna Andersson, Economist