Polish retail sales growth likely to have decelerated in July

Retail sales growth in Poland is expected to have decelerated in July. According to a Societe Generale research report, retail sales is anticipated to have grown 3.3 percent year-on-year in July, a slowdown from June’s growth of 4.6 percent year-on-year. Meanwhile, in sequential terms, Poland’s retail sales are expected to have declined 0.8 percent in July.

The growth in retail sales is mostly driven by food and beverages, motor vehicles sales furniture and household appliances sales that grew 4.1 percent year-on-year, 11.1 percent and 13 percent respectively. Retail sales growth in real terms is expected to have risen 5.5 percent year-on-year, stated Societe Generale.

In July, Poland’s new passenger car and van registrations rose 5 percent year-on-year in July, a severe slowdown from 27.8 percent in June, creating a downside risk to the projection, stated Societe Generale.