Key events in EMEA and Latam next week
It's another quiet week in EMEA and Latam. But expect the Polish industrial production and the labour market to recover partly thanks to cooler weather
Poland: Recovery ahead
We expect both the labour market and activity data to recover after a very weak June. Wages should increase by 1.5 percentage points to 6.8% year-on-year. Last month's reading showed a negative drag from manufacturing & utilities subtracting 1.3pp from the headline. The mining sector subtracted another 0.5pp. The weak performance in these sectors was likely related to the forcibly shorter working hours due to the heatwave. Given more benign weather in July we expect a recovery.
A similar situation should be visible in industrial production – we expect a rebound from -2.7% to 6.5% YoY. The June figure showed broad-based deceleration, which we link to the extreme weather conditions rather than cyclical factors (eurozone slowdown should hamper only export-oriented sectors).
EMEA and Latam Economic Calendar
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16 August 2019
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