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Government To Cut VAT on Food To 0% In February

POLAND
  • Yesterday, economic data showed that retail sales rose by 21.2% YoY in November (vs. 16.1% exp.), up from 14.4% the previous month. Real retail sales rose by 12.1% (vs. 8.6% exp.).
  • In addition, construction output rose by 12.7% YoY (vs. 5.1% exp.), up from 4.2% the previous month.
  • This morning, FinMin Koscinski mentioned in a radio interview that Poland May cut VAT on food to 0% (from 5%) in February.
  • Economic data to watch today are consumer confidence (9am London) and money supply (1pm).

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