Poland: Retail sales show strength
September 23, 2011
In August, retail sales expanded 11.3% over the same month last year, above the 8.2% increase in July and market expectations of a 9.1% rise. Seven out of the nine components of the retail sales index accelerated over the previous month. On a monthly basis, retail sales increased a non-seasonally adjusted 1.1% over the previous month (July: +0.7% month-on-month), thereby confirming the acceleration implied by the annual figures. Furthermore, the trend suggests that retail sales remain on an expansionary path, with annual average retail sales increasing from 10.3% in July to 10.7% in August and continuing to climb from the trough of October 2009.