Poland´s economic growth continues to decelerate. Domestic consumption and employment goes down.
In the last quarter of 2012, consumption was down by 0.9%. In
the first quarter of 2013, the domestic consumption is expected to
continue the downward trend. The average gross wages grew by 2.9% in the
fourth quarter compared to the reference period of 2011. In 2012, the
average wage increase came at 3.6%. In 2012, Poland´s inflation rate has
reached 3.8%. As a result, real income was down slightly. Last year was
the first since 1993 in which Poland has recorded a decrease in real
income. According to the Polish National Bank (NBP), private consumption
will remain rather weak this year. NBP explains that is due to the
negative consumer confidence and the weak prospects for income
recipients.
In January, Poland´s wages were up by 0.4%. This was reported by the
Polish Central Statistical Office. Last month, the corporate employment
came at 5.5 million. Compared to the reference period of 2012, this is a
reduction of 0.8%.
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