Salaries up 7.2% in July - GUS

The average gross salary in July amounted to PLN 4,825, 7.2 percent more versus a year ago,  Polish Central Statistical Office (GUS) reported. Employment grew by 3.5 percent y/y. The wage growth in July was below Bank Pekao analysts' forecast of 7.6 percent and declined compared to 7.5 percent in June. "The increase in wages in July seems surprisingly low," the analysts wrote in a report. They expect that wage pressure in the coming months will continue and see a further gradual slowdown in the rate of employment growth.