Poland Retail Sales Growth Eases To 3.9%

(RTTNews) - Poland's retail sales growth moderated more than expected in July, figures from Statistics Poland showed on Monday.

At constant prices, retail sales advanced 3.9 percent annually in July, much slower than the 6.2 percent rise in June, which was the fastest growth in three months. Economists had expected an increase of 4.5 percent.

The slower growth in July was mainly due to a 1.7 percent fall in sales of textiles, clothing, and footwear, followed by 1.2 percent less sales of furniture, radios, televisions, and household appliances. Sales of food, beverages, and tobacco products were 1.5 percent higher compared to last year, and those of motor vehicles, motorcycles, and parts grew notably by 8.1 percent.

There was double-digit growth in the pharmaceuticals, cosmetics, and orthopedic equipment segment, which expanded 10.8 percent.

On a monthly basis, retail sales climbed 2.2 percent after rebounding 1.4 percent in June.