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Poland Jan. Retail Sales Growth Quickens, Jobless Rate Rises

2/23/2012 6:02 AM ET

Poland's retail sales increased at a markedly faster pace in January, and the rate of growth exceeded economists' forecast, data released by the Central Statistical Office showed Thursday. The annual growth in retail sales accelerated to 14.3 percent in January from 8.6 percent in December, while economists expected sales to grow 13.8 percent.

Retail sales of food, beverages and tobacco products climbed 10.7 percent annually, while clothing and footwear prices moved up 5.9 percent. There was a 19.4 percent annual growth in sales of solid, liquid and gaseous fuels in January.

On a monthly basis, retail sales decreased sharply by 24.9 percent during the month, reversing the previous month's 20.8 percent increase.

Separately, the agency said Poland's unemployment rate increased to 13.2 percent in January from 12.5 percent in the previous month. Economists were looking for a jobless rate of 13.3 percent.

by RTT Staff Writer

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