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Polish wage growth to have accelerated in June, industrial production likely slowed down

Polish wage growth and industrial production data for the month of June are set to release this week. According to an Erste Group Research report, wage growth is likely to have accelerated to 8.3 percent year-on-year in June. Market consensus is for 7.1 percent year-on-year.

Furthermore, employment growth is expected to have risen marginally to 2.8 percent year-on-year. The situation on the labor market continues to be tight, which translates into increased price pressure and solid growth of services prices.

Meanwhile, industrial production growth is expected to have decelerated to 4.2 percent year-on-year in June, said Erste Group Research. Market consensus is for the growth to have eased to 2 percent year-on-year. The negative calendar effect in June might mostly be the reason for subdued industrial performance. Furthermore, an additional fall of manufacturing sentiment in June to 5.2 is seen.

“However, industrial production will most likely accelerate on average in 2Q19 compared to 1Q19. Separately, PPI for June will be published and we expect it to be 0.7 percent y/y”, added Erste Group Research.

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