macropulse

• Strong deterioration in Polish manufacturing

  02.01.2019

  The PMI index for Polish manufacturing decreased to 47.6 pts in December vs. 49.5 pts in November, which was markedly below the market consensus (49.8 pts) and our forecast (49.5 pts). ...

  More

• “Black Friday” boosted retail sales?

  21.12.2018

  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 8.2% YoY in November vs. a 9.7% increase in October, running slightly above our forecast (8.0%) and the market consensus ...

  More

• Holiday on the 12th of November has not limited production growth

  19.12.2018

  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 4.7% YoY in November vs. 7.4% in October, running above our forecast (4.5%) and ...

  More

• Accelerating wage fund growth

  18.12.2018

  In accordance with GUS data published today, nominal wage dynamics in the sector of enterprises employing more than 9 persons rose to 7.7 % YoY in November from 7.6% in October, running above our forecast (7.1%) and the market consensus (7.2%). ...

  More

• Wide ranging disinflation

  14.12.2018

  In accordance with final GUS data, CPI inflation decreased to 1.3% YoY in November vs. 1.8% in October, running above GUS flash estimate (1.2%). ...

  More

• "Exotic" motion for interest rates hike

  06.12.2018

  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 ...

  More

• GDP growth is the highest since 2007

  30.11.2018

  In accordance with GUS data published today, GDP growth stood at 5.1% YoY in Q3 against 5.1% in Q2 and was in line with the flash estimate released earlier. ...

  More

• End of a temporary slump in car sales

  22.11.2018

  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 9.7% YoY in October vs. a 5.6% increase in September, running significantly above our forecast (7.5%) and the market consensus ...

  More

• Manufacturing resists slowdown in Germany

  20.11.2018

  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 rose to 7.4% YoY in October vs. 2.8% in September, running above the market consensus (6.7%) and our forecast (6.6%). ...

  More

• Employment Roly-Poly

  19.11.2018

  In accordance with GUS data published today, nominal wage dynamics in the sector of enterprises employing more than 9 persons rose to 7.6% YoY in October from 6.7% in September, running above our forecast (6.5%) and the market consensus (6.7%). ...

  More