macropulse

• Economic growth is slowing down, wage pressure is decreasing

  18.01.2019

  In accordance with GUS data published today, nominal wage dynamics in the sector of enterprises employing more than 9 persons dropped to 6.1 % YoY in December from 7.7% in November, running way below our forecast (8.0%) and the market consensus (7.3%). ...

  More

• No inflation pressure in sight

  15.01.2019

  In accordance with the final GUS data, CPI inflation decreased to 1.1% YoY in December vs. 1.3% in November, running in line with the GUS flash estimate and our forecast equal to the market consensus. ...

  More

• NBP interest rates stable until the end of the MPC term?

  09.01.2019

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

  More

• Strong deterioration in Polish manufacturing

  02.01.2019

  The PMI index for Polish manufacturing decreased to 47.6 pts in December vs. 49.5 pts in November, which was markedly below the market consensus (49.8 pts) and our forecast (49.5 pts). ...

  More