📢 Weekly Blast #38 (16Sep-20Sep2024)
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.
In today's edition:
💲 Polish Macro
Inflation and Economic Indicators
Core inflation in Poland decreased to 3.7% year-over-year in August 2024, down from 3.8% in July, with a monthly increase of 0.3%, according to the National Bank of Poland.
The Barometer of Job Offers, which tracks online job advertisements, rose to 260.4 points in August, up by 0.6 points from July, reported by the Bureau of Investments and Economic Cycles and the Department of Macroeconomics at the University of Information Technology and Management in Rzeszów.
Nominal hourly labor costs in Poland increased by 12.9% year-over-year in Q2 2024, following a 14.1% rise in Q1, as reported by Eurostat.
Inflation measured by HICP in Poland was 4.0% year-over-year in August 2024, unchanged from July, with a monthly increase of 0.1%, according to Eurostat.
In September 2024, consumer expectations shifted towards lower inflation compared to the previous month, according to data from the Central Statistical Office (GUS).
Employment and Labor Market
At the end of March 2024, 2,292,300 people in Poland worked under commission contracts or similar agreements; among them, 969,900 were also considered employed in the national economy, according to the Central Statistical Office.
In August 2024, employment decreased most significantly in energy production, administration, and industry sectors, while there was a notable increase in accommodation and food services.
Government Policies and Financial Stability
The government plans to rebuild flooded areas and reconsider budget assumptions, announced Prime Minister Donald Tusk during a crisis team meeting.
Poland requested an extraordinary mode for implementing projects in municipalities using EU funds for rebuilding infrastructure damaged by floods, announced Minister of Funds and Regional Policy Katarzyna Pełczyńska-Nałęcz on platform X.
The Financial Stability Committee recommends repealing a 2017 regulation on risk weights for mortgage-secured exposures and updating KNF's methodology for setting additional capital requirements for banks.