Polish retail sales swing into surprisingly weak growth of 0.1% y/y in March

By bne IntelliNews April 24, 2013

Poland's retail sales swung into an increase of 0.1% y/y (and were up by 16.8% m/m) in March of 2013 from annual drop of 0.8% a month before, according to national stats office GUS. Market consensus was growth of 0.5-0.7% y/y. In the entire 2012, retail sales rose by 5.6% (after growing by 11.6% in 2011).

In March, the categories that posted the most dynamic annual growth were: "other retail sales in non-specialised stores" - by 16.8% and "food, beverages and tobacco products" - by 8.9%, followed by "pharmaceuticals, cosmetics, orthopaedic equipment" - by 8.4% and "furniture, radio, TV and household appliances" - by 0.6%.

The highest y/y growths were noted in the following segments: "others" - by 23.3% and "newspapers, books, other sales in specialised stores" - by 9.9%.

Bank analysts said that the retail data confirmed the weak standing of domestic consumption, related to the dire situation on the labour market.

Related Articles

Poland supports Turkey’s near-dead EU membership bid

Turkish President Recep Tayyip Erdogan received a warm welcome from his Polish peer Andrzej Duda on October 17, as Warsaw said it supported Ankara’s formally ongoing bid to become a member of the ... more

Poland claims there will be “no taboo” in talks with Erdogan

Poland will skip no touchy topics in talks with President Recep Tayyip Erdogan, visiting Warsaw on October 17, the office of President Andrzej Duda said ahead of the visit by the Turkish leader, ... more

Polish anti-trust office clears PGE to take over EDF’s local energy assets

The Polish anti-monopoly body UOKiK has cleared the state-controlled power conglomerate PGE to take over the Polish assets of French peer EDF on condition that power from one acquired ... more

Dismiss