Economists predicted a 1 percent increase. compared to the same period a year ago. On the other hand, compared to June, retail sales increased by 6.4% in July.
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The effects of the crisis are visible in recent months’ data. In the period January-July, sales decreased by 3.9 percent year-on-year, while in the same period last year it increased by 6.0 percent. However, in July, after declines in the previous four months, an annual increase is finally visible.
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– Retail sales are already positive year on year (…) and beats the forecast. Another evidence of a dynamic rebound in the consumption of goods, wrote Bank Pekao economists.
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Aid from the state. “Money and opportunities are running out”
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According to mBank’s economists, July’s sales data are very good. – Retail sales are only 1.3 percent short. to the February peak. Recall that in the case of industrial production, it is 3.5 percent. It is safe to say that there is a V-type recovery in production and sales, and the recession is no longer there, they wrote.
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What surprised on the upside? First of all, the sale of durable goods: cars, furniture, electronics and household appliances, is assessed by economists.
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The improvement in the labor market situation and consumer research suggest that the rebound should be permanent.
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– The high score is the result of, among others, purchases of durable goods (…). Fuel sales recorded a much smaller decline, which was favored by a greater number of holiday trips in the country – assessed Michał Gniazdoowski, an analyst at the Polish Economic Institute.
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– We still expect positive results in the coming months. The current data from the labor market show that more and more people return to work full-time. In July, for the first time since the beginning of the pandemic, some previously unemployed returned to employment. Also, the growth rate of wages remained at a higher level than suggested by the survey – he added.
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It is worth noting that in July, compared to the previous month, the value of retail sales via the Internet decreased once again.
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– According to the Central Statistical Office, the share of this sale fell from 7.7 percent. in June this year. up to 6.5 percent in July this year. This is one more proof that Poles’ habits regarding brick-and-mortar shopping are still very strong. The pandemic changes these habits, but slowly – assesses Monika Kurtek, chief economist of Bank Pocztowy.
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He also points out that the combined sales data in the industrial production data released yesterday provide optimism about the condition of the Polish economy in this quarter.
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– They indicate that it will be clearly better than the second (quarter – ed.). However, the open question remains how the increase in COVID-19 incidence in August affects consumer behavior this month (unfortunately, the sentiment has clearly worsened, as the results of the Central Statistical Office show) and how the situation will develop in September, after the start of the school year – assesses Monika Kurtek.
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yesterday (11:00)
BOPeople are getting rid of cash because of inflation!
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yesterday (10:53)
zoptymalizujzycie.plPeople buy televisions because it doesn’t pay to keep money in the bank. That’s the truth. But everything can be dressed in nice propaganda words
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yesterday (10:57)
yyyyPrices rose, not sales. It clearly writes that sales at current prices have increased.
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