Surprising fall in wage dynamics in October

In accordance with GUS data published today, nominal wage dynamics in the sector of enterprises employing more than 9 persons dropped to 3.6% YoY in October vs. 3.9% in September, running below our ... More

Surprisingly weak Q3 GDP reading

In accordance with the today's GUS reading, GDP growth rate in Q3 amounted to 2.5% YoY vs. 3.1% in Q2 and thus was markedly below our forecast (2.8%) and the market consensus (2.9%). ... More

Deflation will end in December

In accordance with the final GUS data, CPI inflation rose to -0.2% YoY in October vs. -0.5% in September, running in line with the flash GUS estimate and above our forecast equal to the market consensus (-0.3%). ... More

Disappointing data on retail sales

In accordance with GUS data, sold production of industry in enterprises employing more than 9 people rose by 3.2% YoY in August vs. a 7.5% increase in August, which was above our forecast (2.8%) and below the market consensus ... More

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