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Cheaper fuel helps consumption rebound in Poland
Retail sales were only 0.3% lower in September than a year ago (ING and consensus: -2.0% YoY), following a 2.7% YoY decline the previous month. Seasonally adjusted sales went up by a fourth consecutive month in MoM terms - this time by a hefty 2.2%. This was boosted by, among other things, a solid increase in fuel sales linked to a favourable reference base and lower prices, which encouraged local drivers and also people from neighbouring countries to fill up. Car sales are recovering as well (+9.8% YoY). At the other extreme, clothing and footwear sales fell sharply (-16.3% YoY), largely thanks to warmer weather ... (full story)