The fall in nominal wage growth of Poland in October indicates the average gross wage growth is likely to decline 3.6% yoy in October against 4.1% yoy in September, according to estimates of Societe Generale. On a month on month basis, it is expected to post a solid growth rate, which is supported by quarterly bonuses and premiums.
"Real wage growth is still being supported by deflation and is likely to increase by 4.4% yoy. Based on the assumption that employment grew by 1.0% yoy in October, we expect the real wage bill growth to amount to 5.4%", notes Societe Generale.
