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Poland Mar. Retail Sales Growth Exceeds Forecast, Jobless Rate Drops

Poland's retail sales increased at a faster than expected pace in March, but the rate of growth slowed sharply from the previous month, data released by the Central Statistical Office showed Wednesday,

Retail sales increased 10.7 percent on an annual basis in March, slower than the 13.7 percent growth recorded in February. Economists were looking for a 10.5 percent gain in March.

Sales of food, beverages and tobacco rose 9.8 percent annually, while clothing and footwear sales climbed 14.4 percent. There was a 14.4 percent annual growth in fuel sales during the month, and an 11.8 percent gain in retail sales of motor vehicles, motorcycles and parts.

On a monthly basis, retail sales increased at a significantly faster rate of 15.7 percent in March than the previous month's 1.2 percent rise.

Separately, the agency said Poland's unemployment rate decreased to 13.3 percent in March from 13.5 percent in February. Economists had expected the jobless rate to drop to 13.4 percent.

by RTT Staff Writer

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