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Retail sales – February 2023. Data from the Central Statistical Office

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Retail sales at constant prices in February 2023 fell by 5.0 percent on an annual basis and fell by 3.6 percent on a monthly basis, the Central Statistical Office (GUS) reported.

The consensus prepared by PAP Biznes pointed to a decrease in retail sales in constant prices y/y by 1.5 percent. and an increase of 0.5 percent. in terms of mdm.

Retail sales at current prices increased by 10.8% last month. y/y


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Online sale

The share of online sales in retail sales (in current prices) amounted to 8.7% in February in Poland. against 8.3 percent in January, according to the Central Statistical Office.

The value of online retail sales at current prices increased by 1.7% in February.

GUS reported that among the presented groups with a significant share of online sales, an increase in the share was reported by enterprises classified into the groups: press, books, other sales in specialized stores” (from 22.9 percent a month ago to 26.3 percent), “textiles , clothing, footwear” (from 21.5% to 22.1%, respectively).

In turn, a decrease in the share was recorded by units from the “furniture, electronics, household appliances” group (from 18.7 percent to 17.9 percent).

Retail sales in February 2023 – comments

“Hopeless data on retail sales: -5% y/y in REAL. This is not a statistical base. Good data on the construction industry do not change much here. GDP in the first quarter will be deeper than in the NBP projection. Consumption recession a inflation base rate is still not falling,” mBank analysts wrote on Twitter.

“The consumer recession deepened in February,” PKO BP economists said. They added that “sales declines were broad – in February only sales of cars, cosmetics and pharmaceuticals and clothing increased”.

“Disastrous retail sales data in Poland for February!” – wrote the XTB Brokerage House. He added: “Positive news, both in the context of disinflationary factors and conducive to a possible recovery on the WSE. Wednesday’s decision of the FED remains crucial for the markets.”

Main photo source: tvn24.pl

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