Poland: Retail sales growth soften in December
Latest reading: Retail sales rose 2.1% year on year in December, which was below November’s 3.1% increase. Looking at the details of the release, sales growth of both motor vehicles and fuel softened, and food, beverages and tobacco sales contracted at a sharper pace than in the prior month. Meanwhile, the decline in textiles, clothing and footwear sales softened from November.
On a monthly basis, retail sales collapsed 1.3% in seasonally adjusted terms in December, which was well below November’s 1.0% expansion. Meanwhile, annual average retail sales growth rose to 3.8% in December from 3.7% in November. This signals an improving trend in the retail trade sector.