Slowdown in GDP growth in Q4 less likely

In accordance with GUS data, dynamics of sold production of industry in enterprises employing more than 9 people dropped to 9.1% YoY in November vs. 12.3% in October, which was above the market consensus (9.0%) and our forecast (7.8%)...


Record employment growth in November

In accordance with GUS data published today, nominal wage dynamics in the sector of enterprises employing more than 9 persons dropped to 6.5% YoY in November vs. 7.4% in October, running below our forecast (6.9%) ... More

Inflation in target only for a moment

In accordance with the final GUS data, CPI inflation in November rose to 2.5% YoY vs. 2.1% in October, running in line with the flash estimate by GUS and above the market consensus (2.4%) and our forecast (2.3%). ... More

Labour market hampers recovery in manufacturing

Business sentiment indicator for Polish manufacturing (PMI) rose to 54.2 pts in November vs. 53.4 pts in October, running slightly above our forecast equal to the market expectations (54.0 ... More

GDP growth in Q3 above expectations

In accordance with the GUS flash estimate, GDP growth rate in Q3 rose to 4.7% YoY vs. 4.0% in Q2 and thus was slightly above our forecast consistent with the market consensus (4.5%). The higher-than-expected GDP dynamics ... More

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