Locked content Unemployment high across Europe – EC report

Almost 13 million people in Europe have been unemployed for more than one year, according to a report issued by the European Commission on Monday evening. “Moreover, one in three unemployed people have spent more than two years without a job,” the EC’s statement said. Despite that, employment is gro...

Locked content European Commission: SMEs still struggling

In a recent European Commission release, the path of small and medium enterprises to recovery shows some promise, but is still lacking the employment levels pre-2008. Although value added in 2013 was strong in some countries, employment in SMEs was still 1.9 million employees and 2.16 percent below ...

Locked content Retail sales up by 1.3% – Eurostat

The volume of retail trade in Poland grew by 1.3 percent year-on-year in August, according to a data release from the EU’s statistics office Eurostat. In month-on-month terms the growth was 2.2 percent. Throughout the EU retail trade grew by 2.5 percent y/y and by 1.4 percent m/m. In the euro area i...

Locked content Ministry hikes trade deficit forecast

Poland’s Economy Ministry has corrected its forecast of Poland’s foreign trade deficit this year to €1.3 billion, according to a report quoted by the Polish Press Agency. It earlier expected the deficit to be €600 million. Exports are estimated to reach €164.3 billion at the end of 2014, compared to...

Locked content End-August budget deficit at PLN 24.6 bln

As of the end of August, Poland’s budget deficit amounted to PLN 24.60 billion or 51.8 percent of the full-year plan, according to final data from the Ministry of Finance quoted by ISBnews. The ministry had earlier estimated the August budget deficit to be PLN 24.64 billion. The original budget plan...

Locked content Poland’s rating one of the most stable – Moody’s

Poland has one of the most stable ratings covered by Moody’s, Dietnar Hornung from the ratings agency’s sovereign rating department was quoted as saying by the Polish Press Agency. “Poland has a very stable rating and this is reflected in its outlook,” Hornung said. Moody’s has rated Poland at A2 si...

Consumer protection uncovers unfair fees

According to the Office of Competition and Consumer Protection (UOKiK), Santander’s Bank Zachodni WBK has been charging unfair fees for payment reminder letters. The investigation included mail and telephone reminders, as well as other debt collection services. The bank has agreed to stop such...

Locked content Number of bankruptcies up in September – Euler Hermes

In September this year, 71 Polish companies went bankrupt, according to a report issued by Euler Hermes Collections on Thursday. In September 2013 the figure was 66. The number of bankruptcies in September was affected by the problems of the manufacturing and trade sectors, the report said. In the m...

Locked content BIEC labor market index inches down

The forward-looking labor market indicator, calculated by the Bureau for Investments and Economic Cycles (BIEC) inched down by 0.2 points month-on-month in September, according to a report from the institution quoted by the Polish Press Agency. Over the past four months, the indicator has only been ...