Given the real economy data of Poland, the GDP growth is implied at 4 percent in the third quarter of 2019, noted Erste Group Research in a report. The figure is most likely being downplayed by the sluggish performance of the industrial sector, while the softer performance of retail sales does not help either.
Over all, industry decelerated to 3.4 percent year-on-year in the third quarter, from 4.8 percent year-on-year in the previous quarter and retail sales fell to 6.2 percent year-on-year, from 8.7 percent year-on-year, respectively.
“The recent development of retail sales seems somewhat counterintuitive to us, due to increased social transfers and a tight labor market. We continue to see FY19 GDP growth at 4.2 percent”, added Erste Group Research.
