Strong Wage Growth and Industrial Recovery Mark February Economic Report

Marcin Klucznik of PIE notes robust economic indicators for February, highlighting the strongest wage growth in over a decade and increased industrial activity. The Central Statistical Office reports a 12.9% year-on-year rise in the average gross salary in the enterprise sector, with a slight decline in employment. Klucznik anticipates continued high wage growth in 2024, driven by economic recovery and minimum wage adjustments, enabling increased consumer spending. Industrial production surged by 3.3% annually, indicating a return to growth, with 24 out of 34 basic industries expanding. Despite this, PPI producer prices remain in deep deflation, down by 10.1% year-on-year, but analysts foresee improvement with the economic rebound. This falls under the category of economy.

(Source: forsal.pl)