Retail sales in April compared to March increased by 6.2 percent. Thus, it increased by 7.9 percent per year. – results from Monday's publication.
This means a clear acceleration of the annual growth dynamics of retail sales, which in February and March was in the plus of only 0.6 percent.
We also know what consumption looks like after eliminating the impact of price increases. In fixed prices, retail sales increased by 7.6 percent in a year, and in an analogous report a month ago there was a decrease of 0.3 percent.
How does this relate to previous forecasts of economists? There is a big, positive surprise. The average of typing suggested a clear (though not so strong) acceleration of the driving force of the Polish economy. Retail sales during the year were to increase by 4 percent, and the indicator at fixed prices was to amount to 3.4 percent. The results are about twice better.
The latest GUS data is very important and they say a lot about the Polish economy. It is retail sales that illustrate consumption, that has been the main driving force for GDP growth for years. She was a fuse during the crisis and what pulled up during the prosperity period.
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