Further solid data from the Polish labour market

In accordance with GUS data published today, nominal wage growth in the sector of enterprises employing more than 9 persons dropped to 4.9% YoY in July vs. 6.0% in June, running below our forecast equal to the market consensus (5.3%).

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Investments supported economic growth

In accordance with the today's GUS flash reading, GDP growth rate in Q2 dropped to 3.9% YoY vs. 4.0% in Q1 and thus was in line with our forecast and above the market consensus (3.8%). The quarterly dynamics of seasonally ... More

Growth rate of food prices has increased

In accordance with the final GUS data, CPI inflation in July has increased to 1.7% YoY vs. 1.5% in June, running in line with the flash estimate by GUS and above our forecast, which was equal to the market consensus ... More

Slight slowdown of economic growth in Q2

In accordance with GUS data, dynamics of sold production of industry in enterprises employing more than 9 people dropped to 4.5% YoY in June vs. 9.1% in May, which was above the market consensus (3.8%) and ... More

No worries about construction

In accordance with GUS data, sold production of industry in enterprises employing more than 9 people rose by 9.1% YoY in May vs. a 0.6% decrease in April, which was above our forecast (8.9%) and the market consensus (8.6%). ... More

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