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Retail Sales Artificially Boosted by Refugee Influx

POLAND
  • Rzeczpospolita writes that retail sales may look artificially high due to the influx of Ukrainian refugees. Analysts see the average domestic consumer limiting spending amid falling real purchasing power. Additionally, the retail sales release fails to reflect the slowdown in services consumption, where consumer pessimism is more visible.
  • The article follows yesterday’s retail sales release, which showed sales rose 21.5% vs. Exp. 20.0% on a real Y/Y basis.
  • The ruling PiS party have flagged a possible coal shortage over winter as a key hurdle to winning a third term at the next elections, with ministers unable to agree on a strategy for pressuring state-controlled coal traders into action, according to Gazeta Wyborcza.
  • Later today, President Duda is scheduled to be speaking with press after appearing at the UN conference.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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