Data on Friday from Poland's statistics office revealed that the country’s retail sales grew at a rate of 6.4 percent year-on-year in June 2010 and 4.1 percent month-on-month. This was a substantial increase from the percentage of total sales year-on-year in May 2010, which was 4.3 percent and June 2009, which was 0.9 percent.

In more good economic news, Poland's unemployment rate fell from 11.9 percent in May 2010 to 11.6 percent in the following month.

“The most important thing here is retail sales data,” Marta Petka-Zagajewska, an economist at Raiffeisen Bank Polska, told Reuters. “It will support expectations for economic growth of about 3.2 percent or slightly more in the second quarter.”

Sales of furniture, appliances and electronics increased by an impressive 19.7 percent with sales of pharmaceuticals and cosmetics increasing by 20.4 percent.

Clothes and shoes sales were a little further behind at 12.2 percent, with cars sales at 8.5 percent year-on-year.

“The data surprises on the upside for the second consecutive month. It shows consumption is rebounding. What is important, sales of durable goods are rebounding, particularly car sales. This factor should support growth in sales also in coming months,” Grzegorz Maliszewski, chief economist at Millennium Bank told the newswire.

After this data was published, the Polish złoty was reported as being 0.3 percent stronger, with bonds staying relatively stable.