Poland: Retail sales rebound in December
February 2, 2015
In December, retail sales increased 1.8% over the same month of the previous year, which contrasted the 0.2% drop recorded in November. December’s reading came in below the 2.2% that the markets had expected. The increase reflected higher sales for motor vehicles, as well as for food, beverages and tobacco, pharmaceutical products and clothing. Conversely, sales for household appliances were lower than in the previous month.
Despite December’s improvement, annual average growth in retail sales continued on the downward trend that began in May 2014. Annual average growth dropped from 3.5% in November to 3.1% in December, which marked the lowest reading in 11 months.
Author: Cecilia Simkievich, Economist