Polish central bank sees recovery in consumer demand
February 25, 2014
Poland may expect a recovery of consumer demand in the near future as suggested by retail sales, but the recovery may be slow, central bank NBP said.
"Most signals coming from high-frequency data point to the possibility of rebuilding consumer demand, although this process may have a rather sluggish character," NBP said.
Poland's retail sales growth accelerated to 4.2% in Q4 2013 from 3.9% in Q3, which "indicates the possibility of improving private consumption in the following quarters," NBP reported.
In addition, a positive real term wage growth in Q1-Q3 2013 and low inflation are positive signals.
On the other hand, the said factors are yet to translate into improvement of the labor market, NBP wrote.