Not even the purchase of Easter hams and cakes was enough to give much of a lift to Polish retail sales, which rose by only 0.1 per cent in March – less than analysts had expected.
The grim results are one more sign that the Polish economy is losing altitude and, by some estimates, may have stopped growing at all. Continue reading »
What looked like the bottom may have turned out to simply be a ledge as new data shows that the Polish economy is still sinking, with retail sales coming in below expectations and unemployment continuing to rise.
Retail sales in February contracted by an annual 0.8 per cent, far below consensus of a 0.4 per cent increase, largely due to a slump in car and fuel sales. Retail sales rose by 3.1 per cent in January, an unexpected result that now seems to be a one-off. Continue reading »
Both pessimists and optimists have something to chew on in the latest data release on the Polish economy.
Retail sales performed better than expected, but unemployment rose to levels last seen six years ago. Continue reading »
The worm is really turning for the Polish economy, with yet more terrible data released on Thursday showing that the economic slowdown is a lot more sudden and sharper than most analysts had expected just a few months ago.
Retail sales in December fell at a 2.5 per cent annual rate – far below the consensus of a 1.3 per cent increase and a sign that the Polish consumers who helped keep the economy out of recession in 2009 have firmly shut their wallets. That means a lot of Polish children had meagre pickings for presents, as shoppers were more careful than expected even during the height of the Christmas season. Continue reading »
There comes a time when a company needs a helping hand, and Poland’s Zelmer, country’s largest maker of smaller white goods, is getting one in the form of a 608m zlotys ($187m) takeover by Germany’s Bosch-Siemens Hausgeraete. Continue reading »
There is obviously a communications problem in Poland – namely, someone has failed to inform Polish consumers that there is a crisis brewing and that they should keep their heads down and wallets closed.
February retail sales data released on Monday were surprising, showing an annual increase of 13.7 per cent while markets were expecting a 9.9 per cent increase. Continue reading »