MPC waiting for rebound in investments

As we expected, the Monetary Policy Council has left interest rates unchanged today (the reference rate amounts to 1.50%). The MPC maintained the view that "given the available data and forecasts, the current ... More

Labour shortages limited production growth

Business sentiment indicator for Polish manufacturing (PMI) rose to 52.5 pts in August vs. 52.3 pts in July, running below our forecast equal to the market consensus (53.0 pts). ... More

Stagnation in investments continues

In accordance with the today's GUS reading, GDP growth rate in Q2 amounted to 3.9% YoY vs. 4.0% in Q1 and thus was in line with the previously published flash estimate. The quarterly dynamics of seasonally adjusted GDP ... More

Investments supported economic growth

In accordance with the today's GUS flash reading, GDP growth rate in Q2 dropped to 3.9% YoY vs. 4.0% in Q1 and thus was in line with our forecast and above the market consensus (3.8%). The quarterly dynamics of seasonally ... More

Growth rate of food prices has increased

In accordance with the final GUS data, CPI inflation in July has increased to 1.7% YoY vs. 1.5% in June, running in line with the flash estimate by GUS and above our forecast, which was equal to the market consensus ... More

Slight slowdown of economic growth in Q2

In accordance with GUS data, dynamics of sold production of industry in enterprises employing more than 9 people dropped to 4.5% YoY in June vs. 9.1% in May, which was above the market consensus (3.8%) and ... More

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