Weekly

Key March economic activity data are coming this week. On Tuesday, we will see wages and employment, as well as industrial and construction output and producer prices. The picture will be completed retail sales and money supply data on Thursday, GUS Statistical Bulletin on Friday. March was the first month of the year in which weather conditions allowed producers and construction companies to operate normally, so we expect a clear rebound in their performance (...)

The coming week will be relatively light in terms of economic data releases. Global markets’ attention will be focused on how negotiations on ending the war with Iran are progressing, but just after the weekend the number one topic will most likely be the outcome of the elections in Hungary. Opinion polls have for many weeks pointed to a growing lead of the opposition TISZA party, but the outcome is not a foregone conclusion, as the ruling Fidesz party can count on a number of electoral system regulations working in its favour and possibly also on a late-stage mobilisation of its electorate.

In Poland, balance of payments data for February will be released on Monday, followed on Wednesday by final March CPI inflation data. On Thursday, core inflation figures will be published along with the annual revision of quarterly GDP data for the past two years. (...)