Growing wages drive consumption in Poland says think tank
Rapidly increasing salaries in Poland are the main driving force behind higher levels of consumption, a think-tank reported on Tuesday.
According to data from the Polish Economic Institute (PIE), the average Polish wage in March was 12 percent higher than the year prior.
Taking into account inflation, this represents an increase in the purchasing value of wages of 9.8 percent year on year, which is the highest in the history of the PIE study.
The rapid rise in salaries, added the institute, has boosted savings while also allowing Poles to make more purchases.
This appears reflected in the figures.
On Tuesday the Central Statistical Office (GUS) published a report stating that Poland's retail sales increased in real terms by 6.1 percent year on year in March. This is the third month in a row in which retail sales have risen.
According to PIE’s estimates, the significant improvement in sales in Poland will continue for at least the next two years. (PAP)
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