Retail sales impacted by calendar and trade ban

In accordance with the GUS data released today, retail sales in enterprises employing more than 9 people increased in current prices by 4.6% YoY in April vs. a 9.2% increase in March, running below the market consensus (8.1%) and our forecast (8.2%)...

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The peak of public investments growth in Q1?

In accordance with GUS data, dynamics of sold production of industry in enterprises employing more than 9 people rose to 9.3% YoY in April vs. 1.8% in March, running above our forecast (7.8%) and ... More

Labour market – good start of Q2

In accordance with GUS data published today, nominal wage dynamics in the sector of enterprises employing more than 9 persons rose to 7.8% YoY in April from 6.7% in March, running markedly above our forecast equal to the ... More

GDP clearly above expectations

In accordance with the GUS data, CPI inflation rose to 1.6% YoY in April vs. 1.3% in March, running in line with the GUS flash estimate and above our forecast equal to the market consensus (1.5%). ... More

Easter holiday supported retail sales

In accordance with the GUS data released today, retail sales in enterprises employing more than 9 people increased in current prices by 9.2% YoY in March vs. a 7.9% increase in February, running visibly above the ... More

GDP growth slowed down in Q1

In accordance with GUS data, dynamics of sold production of industry in enterprises employing more than 9 people dropped to 1.8% YoY in March vs. 7.4% in February, running below our forecast (4.4%) and the market consensus (2.9%). ... More

Base effects hampered wage growth

In accordance with GUS data published today, nominal wage dynamics in the sector of enterprises employing more than 9 persons dropped to 6.7% YoY in March from 6.8% in February, running below our forecast (7.0%) and above ... More

Inflation is moving away from the target

In accordance with the GUS data, CPI inflation dropped to 1.3% YoY in March vs. 1.4% in February, running in line with the flash estimate and clearly below our forecast equal to the market consensus (1.6%). ... More

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