Retail sales up by 2.1% in July

The volume of retail trade in Poland grew by 2.1 percent year-on-year in July, according to data released by the Central Statistical Office (GUS) on Tuesday. In month-on-month terms retail trade grew by 4.7 percent. In real terms (constant prices) retail sales grew by 3.1 percent y/y, GUS also said. Economists surveyed by the Polish Press Agency had expected retail sales to grow by 1.8 percent y/y and by 4 percent m/m. “The data is consistent with dynamic VAT revenues as well as the robust labor market,” Citi Research analysts wrote in an e-mailed comment.