macropulse

• Slight increase in employment at the beginning of the second wave of the pandemic

  19.11.2020

  According to GUS data published today, nominal wage dynamics in the sector of enterprises employing more than 9 people dropped to 4.7% YoY in October vs. 5.6% in September. ...

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• GDP growth in Q3 slightly above expectations

  13.11.2020

  In accordance with the final GUS data, CPI inflation dropped to 3.1% YoY in October vs. 3.2% in September. ...

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• MPC sees deterioration in economic conditions. Hard lockdown not factored in NBP projection

  06.11.2020

  As we expected, the Monetary Policy Council has not changed interest rates today (the reference rate amounts to 0.10%). ...

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• MPC is going to ease the monetary policy

  05.11.2020

  At the yesterday’s conference, Prime Minister M. Morawiecki announced the introduction of subsequent and numerous restrictions aimed at limiting the rate of increase of new cases of COVID-19. ...

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• September retail sales and construction output overshadowed by the pandemic

  21.10.2020

  In accordance with GUS data that have been released today, retail sales in enterprises employing more than 9 people increased in current prices by 2.7% YoY in September vs. a 0.4% increase in August. ...

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• Industrial production has returned to pre-pandemic level

  20.10.2020

  In accordance with GUS data, the sold production of industry in enterprises employing more than 9 people increased by 5.9% YoY in September vs. a 1.5% increase in August. ...

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• Surprisingly strong wage growth in September

  19.10.2020

  According to GUS data published today, nominal wage dynamics in the sector of enterprises employing more than 9 people rose to 5.6% YoY in September vs. 4.1% in August. ...

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• This is not the end of COVID-19 price rises

  15.10.2020

  In accordance with the final GUS data, CPI inflation rose to 3.2% in September vs. 2.9% YoY in August, running in line with the GUS flash estimate and above the market consensus equal to our forecast (3.0%). ...

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• MPC has noted the temporary weakening of PLN

  08.10.2020

  As we expected, the Monetary Policy Council has not changed interest rates today (the reference rate amounts to 0.10%). ...

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• Optimism in manufacturing despite pandemic

  01.10.2020

  Polish manufacturing PMI rose to 50.8 pts in September vs. 50.6 pts in August, running significantly below the market expectations (52.6 pts) equal to our forecast. ...

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