Retail Sales grew by 3.8 percent

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The Central Statistical Office (GUS) reported that retail sales in May rose by 3.8 percent year-on-year. On the other hand, retail sales fell by 2.7 percent month-on-month. Economists predict a stabilization of the retail sales dynamic in the coming months.

Comparing year-on-year results by branch, automotive sales fell by 5 percent, while clothing and shoes rose by 16.7 percent and drugs and cosmetics rose by 7.3 percent. Compared to the previous month, automotive sales fell by 11.2 percent.

Economists stress that April 2014 sales were the best in two years, and with May came a deceleration of sales growth. Nonetheless, consumption should continue to grow as a share in the GDP, said Monika Kurtek, chief economist at Bank Pocztowy.

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