Poland: Retail sales in April fall at the sharpest rate since December 2012
May 26, 2015
In April, retail sales fell 1.5% over the same month last year, contrasting the 3.0% increase tallied in March and significantly undershooting the 1.1% increase that the markets had expected. April’s reading was the lowest since December 2012. The contraction reflected falls in sales of fuels as well as food, beverage and tobacco products. Conversely, books and pharmaceuticals sales recorded significant increases.
As a consequence of April’s decrease, annual average growth in retail sales continued on the downward trend that began in May 2014. Annual average growth fell from 2.0% in March to 1.2% in April, which marked a multi-year low.
Author: Eric Denis , Economist