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Retail sales – May 2023. The latest data from stores (GUS)

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Retail sales at constant prices fell by 6.8 percent year-on-year in May, the Central Statistical Office (GUS) reported. This is more than analysts predicted. In April, the decline was 7.3 percent. – “Retail sales surprised on the downside” – mBank economists wrote in a commentary.

The consensus of analysts pointed to a decrease in retail sales in constant prices year-on-year by 5.6 percent.

Retail May 2023 Central Statistical Office

“Retail sales surprised on the downside”

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Analysts from the Polish Economic Institute wrote on Twitter that “The Central Statistical Office indicates that the volume of all trade categories is falling. Sales of fuels (-11.8 percent), electronics and household appliances (-14.8 percent) are still falling sharply”.

mBank analysts assessed that “retail sales surprised in the negative (but without exaggeration)”.

On social media, they reported that “the annual indicator has improved slightly from the previous month, but this is only a base effect.”

Read also: Inflation exceeded 114 percent. This is how people try to “cheat” her

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