Economic climate improves in Q2 – IRG SGH

The economic climate index calculated by the Research Institute for Economic Development of the Warsaw School of Economics (IRG SGH) increased by 6.8 points quarter-to-quarter and amounts to -0.3 points in Q2 2017. In year-to-year terms the index has gone up by 3.6 points.

Average wages on the rise in Q1 – GUS

According to data released by the Polish Central Statistical Office (GUS), the average salary in Q1 grew by 4.1 percent year-on-year to PLN 4,353.55 gross. In Q1 2016, the average salary was PLN 4,181.49, GUS data showed.

EBRD upholds GDP forecasts for Poland

The European Bank for Reconstruction and Development (EBRD) has maintained its forecast of 3.2 percent Polish GDP growth for 2017 and 2018. “While the tightening labor market will likely continue putting pressure on wages, thus providing a further boost to consumption, the positive impact of the chi...

Bank profits down in Q1

The net profit of the Polish banking sector in Q1 amounted to PLN 2.84 billion, a 11.1 percent decline y/y, the data from the Poland’s Central Bank (NBP) showed. In March alone, profits amounted to PLN 1.18 billion, which was a 2.8 percent y/y growth. Profits from interest grew by 10.2 percent...

Unemployment rate at 7.7% in March – Labor Ministry

The registered unemployment rate amounted to 7.7 percent in March, a decline of 0.4 percentage points month-on-month and 1.7 percentage points y/y, based on estimates from job centers, the Ministry of Family, Labor and Social Policy announced.

KUKE: Exports soar in March

Euro-denominated exports in March increased by 12.6 percent y/y to €17.43 billion, the Export Credit Insurance Corporation (KUKE). Compared to February, the value of exported goods and services increased by 15.9 percent. For Q2, KUKE forecasts a 6.8 percent increase in euro-denominated exports.

Eurostat: Retail sales up by 6.4% in March

The volume of seasonally adjusted retail trade in Poland grew by 6.4 percent year-on-year in January, according to a data release from the EU’s statistics office Eurostat. In month-on-month terms, it fell by 0.6 percent.

OFE net assets value soar in April

The net assets of the Polish private pension fund (OFE) amounted to some PLN 175.8 billion in April, an increase of 4.9 percent month-on-month, according to a report issued by researcher Analizy Online. Driven mostly by good trading results on the Warsaw Stock Exchange, where the blue-chip WIG20 ind...