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.

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