Pekao: retail sales drops below expectations in IX

The source of lower than expected retail sales reading for September was mainly low food sales, which recorded an unexpected drop by 2.9 percent y/y, according to Piotr Piękoś, the economist from Pekao bank, commenting on the Central Statistical Office (GUS) data.

GUS announced on Monday that retail sales at constant prices increased by 4.3 percent in annual terms in September 2019, but in monthly terms decreased by 4.1 percent. At the same time, retail sales at current prices increased by 5.3 percent y/y.

(PAP)