Green Shoots - Economic indicators are beginning to have more relevance...finally.
Welcome to the new normal. Our last post made the point that we would simply not get involved in the projection game until there was a clearer picture of what was going on in the economy. We are getting closer to that point and the recent report from the EC Summer Economic Forecast puts some meat on the bones of previously sketchy data.
What a year it's been for both the Polish economy generally and the Polish property market in particular. Growth in the number of new build properties, prices and mortgage approvals all exceeded official forecasts. Unemployment, despite increasing marginally in the last quarter remains at an historic low of 5.1 % and salaries have increased on average by 6% in 2019.