Poland: Retail sales growth softens in August
Nominal retail sales rose 6.0% year-on-year in August, coming in below July’s 7.4% jump but showing resilience nevertheless. August’s expansion was broad-based, with the fastest increases recorded for sales of furniture, radio, TV and household appliances; pharmaceuticals, cosmetics, and orthopaedic equipment; and other retail sales in non-specialized stores. Sales of motor vehicles, motorcycles and parts were the only ones to drop in the month.
Consequently, annual average growth in nominal retail sales dropped to 7.0% in August from 7.3% in July, marking the weakest print in over two years.