Article12 April 2019Reading time about 2 minutes

Key events in EMEA and Latam next week

Data from Poland next week should paint a mixed picture of the economy. While the labour market will likely remain solid, annual industrial output should decelerate

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Poland: Positives for the labour market, but as for industrial production...

The final CPI reading should provide further information about the increase in core inflation in March – from 1.0% to 1.3% year-on-year. We expect the higher reading was driven by supply side factors, such as bigger charges in telecommunication, rather than demand-driven growth.

Figures on the labour market should be relatively upbeat. We expect a stable increase in employment (2.9% YoY) and a modest deceleration of wages - from 7.6% to 6.8% YoY. Lower wage growth was probably driven by negative statistical effects in the construction sector.

Finally, we expect industrial production to decelerate from 6.9% to 3.5% YoY. Calendar effects subtract approximately two percentage points. Also, export-oriented sectors are likely to record a weaker performance when compared with February. We also expect a lower contribution from the mining sector.

EMEA and Latam Economic Calendar

ING, Bloomberg
ING, Bloomberg