macropulse

• Slower consumption growth ahead

  23.01.2020

  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 7.5% YoY in December vs. a 5.9% increase in November. ...

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• The sharpest decline in production since December 2013

  22.01.2020

  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 increased to 3.8% YoY in December vs. 1.4% in November. ...

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• Employment and wage dynamics continue to show a downward trend

  21.01.2020

  According to GUS data published today, nominal wage dynamics in the sector of enterprises employing above 9 people increased to 6.2% YoY in December vs. 5.3% in November, running slightly above the market consensus (6.1%) equal to our forecast. ...

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• Inflation is moving towards a peak

  15.01.2020

  In accordance with the GUS final data, CPI inflation rose to 3.4% YoY in December vs. 2.6% in November, running in line with the GUS flash estimate and significantly above the market consensus (2.9%) and our forecast (3.0%). ...

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• MPC holds neutral stance despite the December’s inflation shock

  08.01.2020

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

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• Bittersweet data on the business climate in Polish manufacturing

  02.01.2020

  Polish manufacturing PMI rose to 48.0 pts in December vs. 46.7 pts in November, running above our forecast (46.5 pts) and the market consensus (46.8 pts). ...

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