Warsaw  – Industrial orders in Poland fell by 32.3 per cent in August compared to the same period last year, while unemployment held steady, the Central Statistical Office said Wednesday.

Orders fell largely because of the recent weakening of the zloty and the slowing real estate market, said analyst Pawel Cymcyk of brokerage firm A-Z Finance SA.

The unemployment rate in August stayed steady at 10.8 per cent compared to July, the statistical office said.

There were some 1.6 million people registered unemployed in the country at the end of August.

There is often a drop in unemployment in June, July and August because of seasonal work, Cymcyk said, but that reduction did not happen this August because more people lost their jobs.

The statistical office that 453 employers reported in August that they expect to dismiss about 40,600 workers.

Retail sales for August were up 5.2 per cent year over year, but fell short of the forecast of 6 per cent.

“It was predicted to be high because of the holidays – it was calculated that 600,000 people spent the holidays in the country rather than going abroad,” Cymcyk said. “Those people who spent their holiday in Poland did not spent as much money as they should.” (dpa)