The average gross wages and salaries in the enterprise sector (in units employing more than 9 persons) inched down by 0.1% in monthly terms to PLN 3830.89 in April and were up by 3.0% on the year (compared to market expectations of a rise of 1.6%), according to the data of the national stats office GUS. In the entire 2012, they increased by 3.4% vs. 5.0% growth in 2011 (in 2012, the average annual inflation was 3.4%).
In April, the average paid employment was down by 0.2% on the month and down by 1.0% in annual terms, to 5,477.5 thousand (market consensus was -0.9%). The pace of employment's rise in the whole 2012 reached 0.1% vs. 3.2% a year earlier.
Bank economists attributed the higher-than-expected wages growth to pay-outs of bonuses in the mining industry and stress that the April data are insufficient to claim that a trend reversal is in the pipeline - they still expect wage pressure to remain moderate in the next few months.
Poland will not comply with the Court of Justice of the European Union’s injunction on logging in the ancient Bialowieza Forest, a newswire report claimed on August 4. Warsaw’s stance in ... more
Polish financial market regulator KNF on August 2 gave Raiffeisen Bank International (RBI) a new deadline of May 15, 2018 to float 15% of its Polish unit. Under the terms of its purchase of the ... more
Manufacturers in Central Europe reported a step back in activity and confidence in July, purchasing managers’ indices (PMI) released by IHS Markit on August 1 showed. While, the indicators still ... more