📢 Weekly Blast #40 (30Sep-04Oct2024)
Snapshot of actionable insights from the Polish stock exchange
👋 Welcome to the Weekly Blast - a snapshot of actionable insights from the past week you don't want to miss: recommendations, insider trading, company updates, significant contracts for small & mid caps, M&A activities, upcoming events and trends.
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In today's edition:
💲 Polish Macro
Economic Indicators
In Poland, consumer prices went up by 4.9% in September 2024 compared to last year. They also increased by 0.1% from the previous month, said the Statistics Poland (GUS).
A report from GUS showed that the economy was slowing down and might enter a recession in July.
The total grain harvest was 35.3 million tons, which is about 2% less than last year. Fruit from trees and bushes also decreased by over 17% and 13%, respectively.
Farmers thought their farm situations in June 2024 were similar to December 2023. However, they are more worried about the second half of the year.
The Labor Market Index, which predicts changes in unemployment, rose by 1 point to 71.2 points in September 2024.
Monetary Policy
The Monetary Policy Council kept interest rates the same at its meeting on October 1-2, 2024. The main rate is still at 5.75%, according to the central bank.
Inflation should return to normal once energy prices stabilize, but higher energy costs might affect inflation expectations, said the Monetary Policy Council.
The Council might start lowering interest rates in the second quarter of 2025, according to NBP President Adam Glapiński.
Demographics and Social Issues
Poland is facing a demographic crisis that could last a long time, according to a GUS report.
More foreign women are having babies in Poland, reported GUS.
By 2060, Poland's population might decrease by 6.7 million people compared to 2023.
In 2023, households had better financial situations, said a GUS report.