macropulse

• 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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• Labour market – good start of Q2

  18.05.2018

  In accordance with GUS data published today, nominal wage dynamics in the sector of enterprises employing more than 9 persons rose to 7.8% YoY in April from 6.7% in March, running markedly above our forecast equal to the market consensus (7.1%). ...

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• NBP Governor indicates lower bound on interest rates

  16.05.2018

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

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• GDP clearly above expectations

  15.05.2018

  In accordance with the GUS data, CPI inflation rose to 1.6% YoY in April vs. 1.3% in March, running in line with the GUS flash estimate and above our forecast equal to the market consensus (1.5%). ...

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• Easter holiday supported retail sales

  23.04.2018

  In accordance with the GUS data released today, retail sales in enterprises employing more than 9 people increased in current prices by 9.2% YoY in March vs. a 7.9% increase in February, running visibly above the market consensus (8.2%) and our forecast (8.3%). ...

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• GDP growth slowed down in Q1

  19.04.2018

  In accordance with GUS data, dynamics of sold production of industry in enterprises employing more than 9 people dropped to 1.8% YoY in March vs. 7.4% in February, running below our forecast (4.4%) and the market consensus (2.9%). ...

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• Base effects hampered wage growth

  18.04.2018

  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 March from 6.8% in February, running below our forecast (7.0%) and above the market consensus (6.5%). ...

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