Retail sales in November rose by 6.6 percent, y/y, while industrial production was up by 3.3 percent, y/y, according to a press release by GUS on Monday. However, sales had declined on a month-by-month basis, by 3.3 percent, the report stated. In real terms, retail sales actually increased by 7.4 percent, y/y.
With respect to Industrial production, GUS stated that in October the increase had been significantly lower (at 1.9 percent). The increase was highest in the area of production of electricity, gas and water as well as in building production. It was lowest in the mining and extractions sector.
The consensus prepared by the Polish press, consisting of data taken from 12 economists, stated that industrial production had increased by 1.7 percent, y/y, and, allowing for seasonal adjustment, by 3.0 percent. Furthermore, industrial production prices had risen by 1.7 percent, (1.1 percent in monthly terms) GUS stated. In the Polish press consensus, they had risen by 0.9 percent (0.3 percent monthly).