Retail Sales in Poland
Poland - Retail Sales
Retail sales growth picks up pace in September
Retail sales rose 2.7% year-on-year in September, which was markedly up from August’s 0.4% increase.
September's notable improvement was largely driven by a notable rebound in motor vehicles, motorcycles and parts sales. In contrast, textiles, clothing and footwear sales fell in September.
Meanwhile, the annual average variation of retail sales come in at 0.0% in September, down from August's 0.2%.
Commenting on the outlook for the Polish economy, Rafal Benecki and Dawid Pachucki, chief and senior Poland economists at ING, reflected:
“The economy's performance in October will probably remain relatively good, as shown by a slight deterioration visible in the effective lockdown indexes. However, we believe that with the introduction of further restrictions, the economic situation will deteriorate in the coming months. For the time being, the restrictions only cover hotels, restaurants and sports and recreation facilities. However, the example of other countries shows that when a pandemic gets out of control, the pressure to introduce full lockdowns increases. This creates the risk of economic downturn on both, Polish export markets and domestically.”
FocusEconomics Consensus Forecast panelists see private consumption decreasing 4.1% in 2020, which is up 0.5 percentage points from last month’s forecast. For 2021, the panel sees private consumption expanding 4.6%, which is down 0.1 percentage points from last month’s estimate.
Poland - Retail Sales Data
|Retail Sales (annual variation in %)||1.3||3.7||8.2||7.9||6.7|
5 years of economic forecasts for more than 30 economic indicators.
Poland Retail Sales Chart
Source: Central Statistics Office.
|Bond Yield||2.07||-0.30 %||Dec 31|
|Exchange Rate||3.79||-0.53 %||Jan 01|
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November 13, 2020
Consumer prices increased 0.10% in October over the previous month, down slightly from the 0.20% increase seen in September.
November 13, 2020
According to a preliminary estimate, the economy contracted at a milder pace in the third quarter, with GDP decreasing 1.6% on an annual basis following Q2’s record-breaking 8.4% slump.
November 6, 2020
At its meeting on 6 November, the National Bank of Poland (NBP) stood pat, leaving the reference rate at its record low of 0.10%, marking the fifth consecutive hold and coming in line with market expectations.
November 2, 2020
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) was unchanged at September’s 50.8 in October, thus signaling an improvement in business conditions in the Polish manufacturing sector compared to the previous month.
October 30, 2020
Consumer prices increased 0.10% in October over the previous month, down from September's 0.20% rise, according to a preliminary reading.