The economic climate index calculated by the Research Institute for Economic Development of the Warsaw School of Economics (IRG SGH) increased by 3.1 points quarter-to-quarter and amounts 3 points in Q4 2017. In year-to-year terms, the index has gone up by 11.8 points.
The European Commission (EC) increased the forecast of this year’s GDP growth by 0.7 percentage point to 4.2 percent. For 2018, the forecast was increased by 0.6 percentage points to 3.8 percent. For 2019, the EC predicts 3.4 percent GDP growth.
The Composite Leading Indicator (CLI) for Poland decreased by 0.08 points m/m in September to 99.1 points. In y/y terms, the indicator decreased by 1.15 points.
To a surprise of no one, the Monetary Policy Council (RPP) has decided to keep interest rates unchanged.
The registered unemployment rate amounted to 6.6 percent in October, down by 0.2 percent in month-on-month terms, and 1.6 percentage points lower y/y, based on estimates from job centers, the Ministry of Family, Labor and Social Policy announced.
The volume of seasonally adjusted retail trade in Poland grew by 6.5 percent year-on-year in September, according to a data release from the EU’s statistics office Eurostat. In month-on-month terms, it increased by 0.8 percent.
The transfers of funds from the European Union to Poland amounted to €301.5 million in September, the Ministry of Finance announced.
Private pension funds OFEs transferred PLN 3.16 billion to the social insurance board ZUS under the pre-retirement asset shift at end-Q3. In the same period, OFEs received PLN 2.52 billion in transfers from ZUS.
Consumer goods and services prices increased by 2.1 percent year-on-year in October, and by 0.5 percent in month-on-month terms, statistics office GUS stated based on its flash estimate. Economists polled by PAP expected inflation to come in at 2.1 percent y/y and 0.4 percent m/m.
Poland’s seasonally-adjusted unemployment rate inched down to 4.6 percent in September, compared to 4.7 percent in August, according to Eurostat data. The number of unemployed stood at 791k.