Poland Sees Strongest Retail Sales Growth in 16 Months
Poland experienced a notable surge in retail sales in January, marking the fastest pace of growth in over a year, according to data released by Statistics Poland.
Retail sales, measured at constant prices, rose by 3.0 percent year-on-year in January, a significant rebound from the 2.3 percent decline observed in December. The actual increase surpassed expectations, which had forecasted a rise of 1.4 percent.
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This uptick in retail activity represents the strongest growth rate since September 2022 when sales had expanded by 4.1 percent.
Among the sectors, sales of motor vehicles, motorcycles, and parts saw the most substantial increase, soaring by 22.0 percent annually. Additionally, sales of solid, liquid, and gaseous fuels experienced significant growth, rising by 13.1 percent.
However, the retail sales data also highlighted a notable decline in the textiles, clothing, and footwear sector, which experienced a sharp fall of 24.7 percent.
In terms of monthly performance, total retail sales witnessed a marked decline of 19.5 percent compared to the previous month, following an 11.0 percent rebound in December.
The robust growth in retail sales reflects positive consumer sentiment and economic activity in Poland, signaling a promising start to the year for the country’s retail sector.
Source: RTT News