Retail sales surprise experts
Poland’s winter did not freeze retail activity. In January, retail sales rose 4.4% y/y, exceeding economists’ expectations of just above 3%. While growth slowed compared with December, it remained solid and comparable to last year’s pace. Cold weather influenced shopping patterns: clothing and footwear sales surged 17.6% y/y, likely driven by demand for winter apparel. Furniture and electronics also performed strongly, rising 10.5%, signaling resilient private consumption.
Food sales increased 4.2% y/y, possibly due to stockpiling during harsh weather, while car sales fell 4.5%. In contrast, construction output dropped 12.8% y/y and industrial production declined 1.5% y/y, reflecting the negative impact of severe weather on other sectors.
(pb.pl)
