macropulse

• New data confirm the slowdown of public investments

  23.12.2019

  According to GUS data, the construction-assembly production dynamics decreased by 4.7% YoY in November vs. 4.0% drop in October, running above our forecast (-6.0%) and below the market consensus (-4.4%). ...

  More

• Consumption dynamics are knocking on the ceiling

  20.12.2019

  In accordance with the Polish Central Statistical Office's (GUS) data that have been released today, retail sales in enterprises employing more than 9 people increased in current prices by 5.9% YoY in November vs. a 5.4% increase in October, running significantly above our forecast equal ...

  More

• Solid November production, but outlook still uncertain

  19.12.2019

  In accordance with the Polish Central Statistical Office's (GUS) data, the dynamics of sold production of industry in enterprises employing more than 9 people decreased to 1.4% YoY in November vs. 3.5% in October, running significantly above our forecast (0.8%) and the market ...

  More

• Real wage fund growth lowest since 2016

  18.12.2019

  According to GUS data published today, nominal wage dynamics in the sector of enterprises employing above 9 people decreased to 5.3% YoY in November vs. 5.9% in October, running below the market consensus (5.9%) and our forecast (6.2%). ...

  More

• The inflation peak is approaching

  13.12.2019

  In accordance with the GUS final data, CPI inflation rose to 2.6% YoY in November vs. 2.5% in October, running in line with the GUS flash estimate equal to the market consensus and our forecast. ...

  More

• MPC not worried about the stronger-than-expected slowdown of economic growth

  04.12.2019

  As we expected, the Monetary Policy Council has left interest rates unchanged today (the reference rate amounts to 1.50%). ...

  More

• GDP growth, investments and consumption are slowing down

  29.11.2019

  In accordance with the GUS data published today, GDP growth rate amounted to 3.9% YoY in Q3 vs. 4.6% in Q2, running in line with the flash estimate published earlier. Seasonally-adjusted GDP increased by 1.3% QoQ in Q3 vs. a 0.8% increase in Q2. ...

  More

• Food sales making up for losses

  25.11.2019

  In accordance with the Polish Central Statistical Office's (GUS) data that have been released today, retail sales in enterprises employing more than 9 people increased in current prices by 5.4% YoY in October vs. a 5.3% increase in September, running above our forecast (4.0% YoY) and the market consensus (5.1%). ...

  More

• The collapse in construction is only seeming

  22.11.2019

  In accordance with the Polish Central Statistical Office's (GUS) data, the dynamics of sold production of industry in enterprises employing more than 9 people dropped to 3.5% YoY in October vs. 5.6% in September. ...

  More