• Ministry of Finance revised its GDP growth forecast upwards for this and next year. Together with faster economy growth, unemployment should decline but on the other hand, public finances reform will increase inflation, according to Ministry of Finance.
• Retail sales in Poland increased by 16.2% y/y in June against expected 15%. Unemployment rate in June declined to 12.4%.
• Purchasing Managers‘ Index in eurozone’s industry declined to 54.8 in July from 55.6 in June. Same index for services slightly decreased to 58.1.
• US Minister of Finance, Mr. Paulson, is going to hold talks in China on juan exchange rate. This is, according to USA, too weak and gives advantage to Chinese exporters on global markets.