The Polish construction sector has started to recover from the collapse. The holidays have brought a clear recovery in the economy. This is according to the latest data from the Central Statistical Office. The Central Statistical Office also provided information on sales in stores.
Data from the Central Statistical Office shows that the poor economic situation in the construction industry is coming to an end.
RMF FM journalist Krzysztof Berenda points out that although residential buildings are still being built at around 10 percent less than a year ago, road and railway construction has accelerated significantly. This means that there is work to be done in construction, workers are needed and they can count on increasingly higher earnings.
It is also clear that developers are slowly starting to resume the suspended construction of apartments.We should see improvement here in the coming months.
At the end of July 2024, there were 829.1 thousand apartments under construction, which is 2.6 percent more than in the same month in 2023 – according to estimates by the Central Statistical Office.
The office reported that construction and assembly production in July (year-on-year) fell by 1.4%, and compared to the previous month it rose by 0.9%.
According to the Central Bureau of Statistics, trade has now become the driving force of our economy. It turns out that we are spending more and more on shopping.
Trading results are improving systematically. This is largely due to the increase in real wages, which have risen by up to 15% in one year. – Sebastian Sagnoj from the Polish Economic Institute explains.
Krzysztof Berenda points out that All this means that the Monetary Policy Board will start thinking about cutting interest rates next year..
The share of online sales in total sales in July 2024 increased compared to the same period of the previous year from 7.9% to 8.8 percent – the Central Bureau of Statistics reported.
The Central Agency for Public Mobilization and Statistics indicated that in July 2024, compared to July 2023, the value of online retail sales increased at current prices (by 16.7%).
The data show that among the presented groups with a significant share of online sales, growth was reported by companies from the following groups: “Textiles, clothing and footwear” (from 18.6% a year ago to 22.5%), “Furniture, electronics, household appliances” (from 15.0% to 17.6%, respectively) and “Sales of printing presses, books, etc. in specialized stores” (from 21.8% to 22.7%).
The Central Statistical Office also announced purchase prices for basic agricultural products for July, such as wheat, rye, live beef, live pigs, poultry and cow’s milk.
Compared to the same month a year earlier, prices fell by 5.5%, after falling by 6.6% a month ago – the Central Statistical Office reported.
On a monthly basis, prices fell by 0.3%. Compared to a previous increase of 1.6% MDM.
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