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Economy in Brief

Poland Updates
by Louise Curley  September 25, 2012

Haver's updates today include several for Poland. Most of them show that the Polish economy, that had outperformed many of its Eastern European neighbors, is now continuing to slow down.The index of industrial production has fluctuated between 144.6 (2005=100) and 150.3 so far this year and was 147.4 in August down from 148.0 in July. After virtual stability in the first four months of this year at between 12.4% and 12.5%, the unemployment rate had increased to 13% by August.  The unemployment rate and the index of Industrial Production are shown in the first chart.

The year to year change in Retail Trade in constant prices has decelerated markedly during the year, from 9.9% in January to 2.3% in August.  Average monthly wages and salaries have shown a similar trend, decelerating from 11.5% in January to 2.6% in August.  The second chart shows longer term trends in monthly wages and salaries and Retail Trade. 

The September balances of opinion for the Business Tendencies Series, that are shown in the third chart, have all become more pessimistic and suggest further declines in the Manufacturing, Construction and Retail sectors of the economy. 

 The data for Poland can be found in the EMERGE and EMERGECW databases.

Sep12 Aug12 Jul12 Jun12 May12 Apr12 Mar12 Feb12 Jan12
Industrial Production (2005=100) -- 147.4 148.0 144.6 147.4 148.1 145.0 147.8 150.3
Unemployment(%) -- 13.0 12.9 12.9 12.6 12.5 12.4 12.5 12.5
Retail Sales in Const Prices (Y/Y %) 2.3 3.4 2.6 4.3 1.8 6.9 8.9 9.9 --
Avg Mthly Wages&Salaries (Y/Y %) -- 2.6 2.4 5.6 4.6 3.2 5.7 3.1 11.3
Manufacturing -7.7 -5.3 -4.4 -1.1 -2.0 -1.5 -0.9 -0.1 -1.7
Construction -23.8 -19.2 -18.4 -20.8 -14.4 -14.2 -10.6 -14.6 -12.5
Retail -8.4 -6.9 -6.0 -6.9 -6.0 -5.0 -3.0 -4.4 -4.2
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