Poland: Retail sales decelerate in March, trend still points upward
April 25, 2014
In March, retail sales increased 3.1% over the same month last year, which was well below the 7.0% expansion tallied in February and marked the lowest reading in nine months. The result, which was below market expectations of a 5.9% increase, was driven by a slowdown in sales of motor vehicles and food.
Despite the deceleration, annual average growth in retail sales increased from 3.2% in February to 3.5% in March, which marked the fastest pace in 13 months. Average growth in retail sales has been on a steady upward trend since reaching a record low in August of last year.
FocusEconomics Consensus Forecast panelists see private consumption growing 2.3% in 2014, which is up 0.1 percentage points from last month's forecast. For 2015, the panel sees private consumption expanding 2.9%.
Author: Carl Kelly, Economist