Poland: Retail sales swing into decline in September
Latest reading: Retail sales declined 2.9% year on year in September, which was a deterioration from August’s 2.5% increase. The result marked the worst reading since July 2023. The notable weakening was largely driven by shrinking sales of motor vehicles, motorcycles and parts. Additionally, textiles, clothing and footwear sales continued to fall at a sharp pace. Lastly, fuel plus food, beverages and tobacco sales dropped at a sharper rate than in August.
On a seasonally adjusted monthly basis, retail sales nosedived 6.7% in September (August: +1.9% mom), the worst result since April 2021. The trend pointed down, with the annual average growth of retail sales coming in at 3.8% in September, down from August’s 4.3% reading.