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Real Wage Growth Lowest in Over a Decade

POLAND
  • PAP cite ING economists as forecasting Poland avoiding recession, at least for now, although a slowdown in GDP growth is expected.
  • Redundancies and job losses are picking up, according to Rzeczpospolita, who see those losing their jobs due to layoffs higher by 25% on a Y/Y basis as they look through official government statistics. This momentum is expected to persist, with the likes of PKO and Eurocash already announcing intentions of further layoffs.
  • DGP Daily sees real wage growth of -2.7% in August, the steepest decline since early 2010 – which marked a series low.
  • President Duda is scheduled to address media in New York later today at 1835CET/1735BST. Retail sales data is also due to cross, seen flat on the monthly read and up 3.3% on a Y/Y basis.
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  • PAP cite ING economists as forecasting Poland avoiding recession, at least for now, although a slowdown in GDP growth is expected.
  • Redundancies and job losses are picking up, according to Rzeczpospolita, who see those losing their jobs due to layoffs higher by 25% on a Y/Y basis as they look through official government statistics. This momentum is expected to persist, with the likes of PKO and Eurocash already announcing intentions of further layoffs.
  • DGP Daily sees real wage growth of -2.7% in August, the steepest decline since early 2010 – which marked a series low.
  • President Duda is scheduled to address media in New York later today at 1835CET/1735BST. Retail sales data is also due to cross, seen flat on the monthly read and up 3.3% on a Y/Y basis.