macropulse

• Polish manufacturing continues to shrink

  01.07.2020

  Polish manufacturing PMI rose to 47.2 pts in June vs. 40.6 pts in May, running above the market expectations (46.5 pts) and slightly below our forecast (47.3 pts). ...

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• This is only the beginning of a decline in construction activity

  23.06.2020

  According to GUS data, the construction-assembly production decreased by 5.1% YoY in May vs. a 0.9% decrease in April, running significantly. ...

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• Retail sales are making up for the losses

  22.06.2020

  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. ...

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• Capacity utilization still low, exports are lagging

  19.06.2020

  In accordance with the Polish Central Statistical Office's (GUS) data, the dynamics of sold production of industry in enterprises employing more than. ...

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• Wage dynamics will not return to pre-pandemic levels for a long time

  18.06.2020

  According to GUS data published today, nominal wage dynamics in the sector of enterprises employing above 9 people dropped to 1.2% YoY in May vs. 1.9%. ...

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• MPC concerned about slight depreciation of PLN

  16.06.2020

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

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• COVID-19 pandemic boosted the prices of services and core inflation

  15.06.2020

  In accordance with the GUS data, CPI inflation dropped to2.9% in May vs.3.4% YoY inApril, runningin line with the GUS flash estimate. ...

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• GDP data on the eve of recession

  29.05.2020

  In accordance with GUS data published today, GDP growth rate amounted to 2.0% YoY in Q1 vs. 3.2% in Q4 2019, running above the flash estimate. ...

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• The third and the last cut in interest rates

  28.05.2020

  As we expected, the Monetary Policy Council decided to cut interest rates. The NBP reference rate was reduced by 40 bps (from 0.50% down to 0.10%). ...

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• Retail sales plummeted, in construction silence before the storm

  22.05.2020

  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. ...

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