Retail sales growth higher than expected
Retail sales in Poland grew by 7 percent year-on-year in February, according to data published by statistics office GUS on Tuesday. In month-on-month terms the figure declined by 0.6 percent.
In real terms retail sales rose by 7 percent y/y.
Economists surveyed by the Polish Press Agency had expected retail trade to grow by 6.2 percent y/y and decline by 1.4 percent m/m.
The data, combined with earlier releases from GUS this month, confirm a scenario of continuing economic recovery, BZ WBK economists wrote in an e-mailed comment. “These numbers underpin our forecast that GDP will advance by more than 3% in Q1 and by 3.5% in 2014,” they said.
