Poland: Retail sales growth deteriorates in May
Latest reading: Retail sales increased 4.4% year on year in May (April: +7.6% yoy). Looking at the details of the release, food, beverages and tobacco sales decelerated. Moreover, clothing and footwear sales grew at a weaker rate. On a more positive note, motor vehicles, motorcycles and parts sales gained traction in May.
On a monthly basis, retail sales fell 2.0% in seasonally adjusted terms in May, contrasting April’s 3.5% expansion. Meanwhile, the trend pointed down, with the annual average growth of retail sales coming in at 3.2% in May, down from April’s 3.3%.