Polish retail-sales growth slowed in January as heavy winter storms kept consumers from spending, signaling the country’s economic recovery may be slower than the government forecast, an economist at Bank Pekao said. “Frosty and snowy winters reduce sales at non-specialized stores and sales of food, while quite a significant drop in cars sales may be related to the end of subsidies for cars in Germany,” said Wojciech Matysiak, an economist at Bank Pekao in Warsaw. “The data confirm a recovery in demand may take place slowly, with GDP dynamics cooling gradually.”
Read more:http://www.businessweek.com/news/2010-02-23/weather-hits-polish-retail-sales-may-slow-recovery-pekao-says.html
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