In January retail sales in Poland grew by 4.8 percent year-on-year, according to data published by statistics office GUS on Monday. In month-on-month terms there was a 21.3 percent decline.
In real terms, retail sales grew by 5 percent y/y, GUS also said.
Economists surveyed by the Polish Press Agency had expected retail sales to grow by 4.3 percent y/y and decline by 21.9 percent m/m.
“The data shows that consumption demand is gaining momentum, however there is still hardly any evidence of rising inflationary pressure,” BZ WBK economists wrote in an e-mailed comment. In their opinion, the real growth figure shows that prices in retail are lower than a year ago.
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