📢 Weekly Blast #43 (21-25Oct2024)
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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Here’s my latest deep dive on a Polish micro-cap. Enjoy!
Click HERE to check all my deep-dives on Polish equities.
In today's edition:
💲 Polish Macro
ECONOMY & GROWTH
Industrial production shows mixed signals: -0.3% year-over-year but +9.0% month-over-month in September
Construction output is concerning with a 9% annual decline, though showing 12% monthly growth
Internet penetration reached 95.9% of households, up 2.6 percentage points from last year
Online shopping increased to 67.4% of adult Poles, up from 64.3% in 2023
Business sentiment index declined to 94.5 in October from 97.9 in September
Export profitability decreased in Q3 2024
Poland's population decreased by 147,000 year-over-year to 37.532 million
MONETARY & FINANCE
Producer prices continue falling: -6.3% year-over-year and -0.5% month-over-month
Money supply (M3) growth at 6.5% year-over-year, with monthly growth of 0.7%
Government debt repayment obligations increased to €9,597 million from €8,606 million
IMF forecasts inflation to reach 5.1% by end-2024 and 3.5% by end-2025
NBP significantly increased gold reserves to 13.494 million ounces
LABOR & CONSUMER
Average gross salary at 8,140.98 PLN (+10.3% year-over-year)
Employment in enterprise sector down 0.5% year-over-year
Unemployment stable at 5.0%
1.4 million workers earned minimum wage at end of 2023
Companies planning wage increases decreased to 34.4% from 36.3%
Consumer sentiment deteriorated in October
Labor productivity in industry increased by 1.2% year-over-year