macropulse

• New emission standards limited retail sales growth

  19.10.2018

  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 5.6% YoY in September vs. a 9.0% increase in August, running significantly below our forecast (8.2%) ...

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• Economic downturn abroad and supply-side constraints have limited production growth

  17.10.2018

  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 dropped to 2.8% YoY in September vs. 5.0% in August, ...

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• Fading boom in the labour market

  16.10.2018

  In accordance with GUS data published today, nominal wage dynamics in the sector of enterprises employing more than 9 persons dropped to 6.7% YoY in September from 6.8% in August, running significantly below our forecast equal to the market consensus (7.1%). ...

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• Drought has limited the decrease in inflation

  15.10.2018

  In accordance with final GUS data, CPI inflation decreased to 1.9% YoY in September vs. 2.0% in August, running above GUS flash estimate (1.8%) and our forecast (1.7%). ...

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• A band instead of a point inflation target

  04.10.2018

  As we expected, the Monetary Policy Council has left interest rates unchanged today (the reference rate amounts to 1.50%). In the statement after the meeting, the Council repeated the view that "the current level of interest rates is conducive to keeping the Polish economy on a sustainable growth path and ...

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• Shopping frenzy continues, sales are high

  21.09.2018

  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 9.0% YoY in August vs. a 9.3% increase in July, running in line with our forecast equal to the market consensus. ...

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• Exporters are going strong

  19.09.2018

  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 dropped to 5.0% YoY in August vs. 10.3% in July, running below the market consensus (5.2%) and our forecast (5.5%). ...

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• Is the slowdown of wage growth temporary?

  18.09.2018

  In accordance with GUS data published today, nominal wage dynamics in the sector of enterprises employing more than 9 persons dropped to 6.8 % YoY in August from 7.2% in July, running slightly above our forecast (6.7%) and below the market consensus (7.0%). ...

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• Sharp increase in core inflation in August

  13.09.2018

  In accordance with final GUS data, CPI inflation did not change in August compared to July and amounted to 2.0% YoY, running in line with the GUS flash estimate and the market consensus and slightly above our forecast (1.9%). ...

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• "All is well"

  05.09.2018

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

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