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Ukraine's birth rate plummets to 300-year low as country’s population collapses
9 hours ago
Retail sales in Poland continue to surge, putting in another month of strong growth, rising 9.3% in July compared with the same month last year, the country’s Central Statistical Office (GUS) said on August 21.
Polish retail sales grew 8.2% y/y in constant prices in June, the statistics office GUS reported on July 20. July was the fourth month of expansion of sales since the April low of a 4% expansion.
As has been the case for many months, retail sales benefitted fundamentally from the booming Polish economy: rising salaries, record low unemployment and the historically high consumer sentiment, Bank Millennium notes.
However, the clock is ticking on the consumption boom as CEE boom may have peaked and analysts are expecting growth to start slowing in the second half of this year.
In the meantime, sales were robust across the board.
Sales of fuels climbed 23.2% in year-on-year terms, while sales of motor vehicles rose 12.6%.
Sales of pharmaceuticals and cosmetics increased by 12.4%.
When expressed in constant prices, retail sales in June were 7.1% higher than in the same month last year, according to the statistics office.
In month-on-month terms, retail sales in July were 0.3% lower than in June, GUS reported.
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