macropulse

• ”Excellent economic situation” according to NBP July projection

  11.07.2018

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

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• Statistical effects supported the retail sales growth

  21.06.2018

  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 7.6% YoY in May vs. a 4.6% increase in April, running above the market consensus (6.6%) and ...

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• Industrial production markedly above expectations

  19.06.2018

  In accordance with the Polish Central Statistical Office's (GUS) data, dynamics of sold production of industry in enterprises employing more than 9 people dropped to 5.4% YoY in May vs. 9.3% in April, running markedly above market consensus (3.5%) and our forecast (4.5%). ...

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• Surprising decline in employment in May

  18.06.2018

  According to the CSO data released today, the nominal wage growth in the enterprise sector employing more than 9 persons in May decreased to 7.0% YoY from 7.8% in April, slightly below our forecast (7.1%) equal to market consensus. ...

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• Inflationary pressure still low

  14.06.2018

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• NBP rates “definitely” unchanged until the end of 2018

  06.06.2018

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

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• Sentiment in Polish manufacturing affected by the slowdown in global trade

  01.06.2018

  The business sentiment indicator for Polish manufacturing (PMI) dropped to 53.3 pts in May vs. 53.9 pts April, running in line with the market expectations and slightly above our forecast (53.2 pts). ...

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• Exports growth rate collapsed in Q1

  30.05.2018

  In accordance with GUS data published today, GDP growth rate stood at 5.2% YoY in Q1 vs. 4.9% in Q4 2017, running above the flash estimate released earlier (5.1%). ...

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• Retail sales impacted by calendar and trade ban

  23.05.2018

  In accordance with the GUS data released today, retail sales in enterprises employing more than 9 people increased in current prices by 4.6% YoY in April vs. a 9.2% increase in March, running below the market consensus (8.1%) and our forecast (8.2%). ...

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• The peak of public investments growth in Q1?

  21.05.2018

  In accordance with GUS data, dynamics of sold production of industry in enterprises employing more than 9 people rose to 9.3% YoY in April vs. 1.8% in March, running above our forecast (7.8%) and below the market consensus (9.5%). ...

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