Polish average gross wages rise above expectations in November, retail sales to have grown strongly

Polish average gross wages and salaries rose 7.7 percent year-on-year in November from October’s 7.6 percent, as compared with consensus expectations of 7.2 percent. Average gross wages and salaries amounted to 4966.61 zl.

The average paid employment in enterprise sector rose 3 percent year-on-year in November, amounting to 6232.4 thousand.

Polish retail sales data for the month of November is set to release this week. According to an Erste Group Research report, retail sales are expected to have grown 7 percent year-on-year, maintaining strong growth.

The favourable situation on the labor market and the positive, but stabilizing consumer confidence are underpinning the strong growth dynamics.