Poor consumption prospects. Pekao analysts pay attention to the sale of furniture

Retail sales accelerate in October, but private consumption outlook has deteriorated, Pekao said, referring to Tuesday’s CSO data. According to analysts, GDP will increase by about 5 percent this year, and by 4 percent next year. Every year.

The Central Statistical Office announced on Tuesday that retail sales in constant prices in October increased by 6.9 percent year-on-year, and month-on-month by 3.6 percent.

Pekao analysts pointed out that retail sales rose in October “close to the consensus” of 6.3 percent. yy. They pointed to the mechanism ensuring acceleration of sales, despite clear signs of deterioration in consumer moods in recent months.

“It is the low base from the previous year related to the self-limitation of consumers and the effects of the first epidemic restrictions introduced in the face of the second wave of the epidemic” – they stated. As they noted, it concerned the sale of fuels and the sale of textiles, clothing and footwear – “the effect is an acceleration, respectively, from 0.4 to 6.9% y / y and from 14.5 to 29.3% y / y”.

About Eric Wilson

The variety offered by video games never ceases to amaze him. He loves OutRun's drifting as well as the contemplative walks of Dear Esther. Immersing himself in other worlds is an incomparable feeling for him: he understood it by playing for the first time in Shenmue.

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