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Archives of MACROscope

Economic Analysis service of the Team of Economists of Santander Bank Polska

18-12-2024
Consumer stayin’ alive, investment should be dancin’ (4281.1 kB PDF)
08-11-2024
Foggy clouds over the green island (1065.6 kB PDF)
18-09-2024
The return to the green island (4385.5 kB PDF)
24-06-2024
Poland - the European champion? (4154.2 kB PDF)
09-04-2024
Permanent CPI drop to target still far away (993.4 kB PDF)
13-03-2024
The Coming Spring (5555.2 kB PDF)
02-02-2024
Too early to panic (761.8 kB PDF)
18-12-2023
Outlook 2024: Against the trends (10273.8 kB PDF)
10-11-2023
New Hope or Phantom Menace? (1122.7 kB PDF)
06-10-2023
Turning points (1283.2 kB PDF)
14-09-2023
All hands on deck (8038.2 kB PDF)
14-07-2023
It cannot get any worse (7478.7 kB PDF)
06-06-2023
Economy gathering strength (1494.5 kB PDF)
08-05-2023
No changes to baseline scenario (920.2 kB PDF)
04-04-2023
Economy at the crossroads (again) (5943.8 kB PDF)
06-03-2023
Second thoughts on disinflation (1248.8 kB PDF)
03-02-2023
Slower deceleration (1149.7 kB PDF)
12-12-2022
2023 Outlook: Running down that hill (10211.9 kB PDF)
11-10-2022
Climbing the inflation plateau (1164.4 kB PDF)
05-09-2022
Gasocalypse now (1264.3 kB PDF)
13-07-2022
Tug of War (6541.2 kB PDF)
10-06-2022
Approaching the top (1289.8 kB PDF)
10-05-2022
Groundhog year (1209.1 kB PDF)
12-04-2022
War accelerated the cycle (6687.9 kB PDF)
03-03-2022
New month – new reality (967.4 kB PDF)
02-02-2022
Forecasts with lower shelf life (1187.0 kB PDF)
17-12-2021
Outlook still rosy, but clouds gathering (5759.1 kB PDF)
05-11-2021
Chasing inflation (1274.5 kB PDF)
12-10-2021
Quick update (616.9 kB PDF)
05-10-2021
Tides are turning (5531.6 kB PDF)
03-08-2021
Inflation is not letting go (729.9 kB PDF)
07-07-2021
The growing price of recovery (6136.7 kB PDF)
08-06-2021
High five (1203.4 kB PDF)
05-05-2021
Better, faster, stronger (1242.4 kB PDF)
01-04-2021
Vanishing point (6279.6 kB PDF)
02-03-2021
Reflation fever (1254.6 kB PDF)
02-02-2021
Frozen (1141.7 kB PDF)
16-12-2020
2021 Outlook - Just wait for the spring to come (7977.8 kB PDF)
02-11-2020
Bumpy road towards normalisation (1403.3 kB PDF)
01-10-2020
Fragile recovery (6561.0 kB PDF)
04-09-2020
Time for upgrade (1225.3 kB PDF)
02-07-2020
The rising wave (7149.6 kB PDF)
01-06-2020
The trough proved deeper than expected (1403.5 kB PDF)
04-05-2020
In search for a bottom (1380.2 kB PDF)
01-04-2020
Coronavirus crisis: v-, V- or U-shaped GDP scenario? (2817.1 kB PDF)
03-03-2020
CPI beats GDP (606.5 kB PDF)
03-02-2020
Virused growth (1174.7 kB PDF)
16-12-2019
2020 Outlook: Gear down to three (2220.5 kB PDF)
04-11-2019
Let’s wait and see (740.3 kB PDF)
02-10-2019
Multidimensional puzzle (3272.5 kB PDF)
03-09-2019
Uncertainty higher again (890.3 kB PDF)
31-07-2019
Overexcitement about central banks (1043.7 kB PDF)
03-07-2019
Take it easy (3726.3 kB PDF)
30-05-2019
Warm, but the sky is clouded (682.2 kB PDF)
25-04-2019
Spring (of inflation) is in the air (1237.9 kB PDF)
02-04-2019
Against the rules (3133.3 kB PDF)
04-03-2019
It is getting interesting (1209.7 kB PDF)
10-01-2019
2019 outlook: Turning points (still) ahead (1784.5 kB PDF)
09-11-2018
Clouded, the future is (1186.2 kB PDF)
10-10-2018
Sum of All Fears (999.8 kB PDF)
17-09-2018
Economic equinox (823.0 kB PDF)
12-07-2018
Trade Wars: The customs menace (925.5 kB PDF)
12-06-2018
Stockpiles of economic growth (913.6 kB PDF)
11-05-2018
Salutary consumption (950.0 kB PDF)
13-04-2018
Nominal descent (1016.9 kB PDF)
14-03-2018
Rosy picture (with a scratch) (948.8 kB PDF)
09-02-2018
Fifth gear still on (937.3 kB PDF)
12-01-2018
A Rising Tide Lifts our Boat (919.9 kB PDF)
18-12-2017
2018 Outlook: Poland (1888.7 kB PDF)
10-10-2017
Looking Through Rose-Coloured Glasses (870.1 kB PDF)
08-09-2017
As Good As It Gets (1572.5 kB PDF)
23-06-2017
Mid-Year Economic Outlook (1229.9 kB PDF)
12-05-2017
Back to the past? (950.5 kB PDF)
12-04-2017
Changing up the gear (956.9 kB PDF)
13-03-2017
Don’t get too excited (930.0 kB PDF)
13-02-2017
So far, so good (976.4 kB PDF)
17-01-2017
The year starts in optimistic moods (918.7 kB PDF)
20-12-2016
2017 Outlook: Poland (1637.8 kB PDF)
16-11-2016
Correction or beginning of a trend? (861.6 kB PDF)
13-10-2016
Time for adjustments (893.0 kB PDF)
13-09-2016
Faith (in easing) no more? (870.2 kB PDF)
14-07-2016
Even more uncertainty ahead (976.3 kB PDF)
15-06-2016
Risks predominate (905.0 kB PDF)
17-05-2016
Warning signals (897.4 kB PDF)
12-04-2016
Rate cuts now look unlikely unless the economy slows (1063.6 kB PDF)
16-03-2016
There is still ammo, but no will to pull the trigger (1115.2 kB PDF)
11-02-2016
Will Poland's MPC join the easing party? (947.8 kB PDF)
18-01-2016
Where Are We Now? (914.3 kB PDF)
08-12-2015
MACROscope - 2016 Outlook: Poland (1742.6 kB PDF)
12-11-2015
Give PiS a chance (1182.0 kB PDF)
13-10-2015
A longer period of uncertainty? (960.8 kB PDF)
15-09-2015
Counting down the days (1142.6 kB PDF)
14-07-2015
Never ending story (1133.1 kB PDF)
12-06-2015
Key themes remain the same (1137.9 kB PDF)
13-05-2015
Political question marks on the horizon (967.6 kB PDF)
09-04-2015
Poland's 4x4 Economy: Treading Safely Over Difficult Terrain (1865.2 kB PDF)
12-03-2015
The Tide Is Turning (1113.4 kB PDF)
12-02-2015
Take it easy (2022.6 kB PDF)
14-01-2015
Economy growing, prices falling (1709.0 kB PDF)
10-12-2014
MACROscope - Outlook 2015 (1208.9 kB PDF)
07-11-2014
(De)concentration of monetary policy (1860.1 kB PDF)
15-10-2014
Slower growth dampens spirits (766.9 kB PDF)
10-09-2014
Ch-ch-ch-ch-changes (1009.9 kB PDF)
11-07-2014
Naturally neutral (1002.0 kB PDF)
12-06-2014
Rate cuts look neither necessary nor likely (1690.2 kB PDF)
13-05-2014
ECB waits until June, MPC until July (1817.5 kB PDF)
11-04-2014
Spring-time optimism (1862.4 kB PDF)
01-04-2014
MACROscope (1862.4 kB PDF)
13-03-2014
Rise of uncertainty in the East (1800.6 kB PDF)
01-03-2014
MACROscope (1800.6 kB PDF)
12-02-2014
2012+2013=2014? (1638.1 kB PDF)
01-02-2014
MACROscope (1638.1 kB PDF)
14-01-2014
Strong turn of the year (1772.7 kB PDF)
01-01-2014
MACROscope (1772.7 kB PDF)
13-12-2013
Another breath of optimism (1567.5 kB PDF)
01-12-2013
MACROscope (1115.0 kB PDF)
14-11-2013
Let the good times roll! (1465.1 kB PDF)
01-11-2013
MACROscope (1465.1 kB PDF)
14-10-2013
Politics in the spotlight (1437.5 kB PDF)
01-10-2013
MACROscope (1437.5 kB PDF)
11-09-2013
(Almost) everything is clear (1427.9 kB PDF)
01-09-2013
MACROscope (1427.9 kB PDF)
11-07-2013
Hot summer ahead? (1470.4 kB PDF)
12-06-2013
Stormy markets (1338.8 kB PDF)
14-05-2013
Is that just a correction? (1420.4 kB PDF)
13-03-2013
Strong ending (1378.2 kB PDF)
12-02-2013
Still easing (1374.2 kB PDF)
15-01-2013
Weak start of the year (1416.3 kB PDF)
13-12-2012
2013 – Close to the edge (1743.6 kB PDF)
13-11-2012
Better late than later (1587.0 kB PDF)
11-10-2012
All is not lost… (1747.4 kB PDF)
11-09-2012
ECB on the go, MPC very slow (1723.3 kB PDF)
11-07-2012
Another hot summer (1367.4 kB PDF)
10-11-2011
BZ WBK MACROscope - No end in sight (1359.0 kB PDF)
01-01-2011
MACROscope (487.7 kB PDF)
01-12-2010
MACROscope (442.7 kB PDF)
01-11-2010
MACROscope (692.9 kB PDF)
01-10-2010
MACROscope (503.6 kB PDF)
01-09-2010
MACROscope (570.1 kB PDF)
01-08-2010
MACROscope (584.8 kB PDF)
01-06-2010
MACROscope (619.9 kB PDF)
01-05-2010
MACROscope (459.4 kB PDF)
01-04-2010
MACROscope (489.6 kB PDF)
01-03-2010
MACROscope (560.7 kB PDF)
01-02-2010
MACROscope (710.6 kB PDF)
01-01-2010
MACROscope (531.2 kB PDF)
01-12-2009
MACROscope (490.8 kB PDF)
01-11-2009
MACROscope (549.9 kB PDF)
01-10-2009
MACROscope (674.5 kB PDF)
01-09-2009
MACROscope (523.0 kB PDF)
01-08-2009
MACROscope (469.5 kB PDF)
01-06-2009
MACROscope (537.0 kB PDF)
01-05-2009
MACROscope (620.4 kB PDF)
01-04-2009
MACROscope (509.9 kB PDF)
01-03-2009
MACROscope (451.7 kB PDF)
01-02-2009
MACROscope (531.9 kB PDF)
01-01-2009
MACROscope (479.0 kB PDF)
01-12-2008
MACROscope (457.4 kB PDF)
01-11-2008
MACROscope (682.3 kB PDF)
01-10-2008
MACROscope (561.8 kB PDF)
01-09-2008
MACROscope (513.1 kB PDF)
01-08-2008
MACROscope (454.2 kB PDF)
01-07-2008
MACROscope (600.4 kB PDF)
01-06-2008
MACROscope (475.8 kB PDF)
01-05-2008
MACROscope (616.1 kB PDF)
01-04-2008
MACROscope (469.4 kB PDF)
01-03-2008
MACROscope (475.4 kB PDF)
01-02-2008
MACROscope (467.2 kB PDF)
01-01-2008
MACROscope (467.0 kB PDF)
01-12-2007
MACROscope (599.4 kB PDF)
01-11-2007
MACROscope (443.2 kB PDF)
01-10-2007
MACROscope (432.9 kB PDF)
01-09-2007
MACROscope (508.2 kB PDF)
01-08-2007
MACROscope (474.8 kB PDF)
01-07-2007
MACROscope (438.1 kB PDF)
01-06-2007
MACROscope (479.6 kB PDF)
01-05-2007
MACROscope (474.2 kB PDF)
01-04-2007
MACROscope (431.7 kB PDF)
01-03-2007
MACROscope (465.1 kB PDF)
01-02-2007
MACROscope (518.8 kB PDF)
01-01-2007
MACROscope (517.3 kB PDF)
01-12-2006
MACROscope (453.9 kB PDF)
01-11-2006
MACROscope (451.5 kB PDF)
01-10-2006
MACROscope (476.9 kB PDF)
01-09-2006
MACROscope (452.8 kB PDF)
01-08-2006
MACROscope (490.5 kB PDF)
01-07-2006
MACROscope (464.5 kB PDF)
01-06-2006
MACROscope (484.6 kB PDF)
01-05-2006
MACROscope (521.9 kB PDF)
01-04-2006
MACROscope (419.4 kB PDF)
01-03-2006
MACROscope (449.7 kB PDF)
01-02-2006
MACROscope (504.7 kB PDF)
01-01-2006
MACROscope (483.1 kB PDF)
01-12-2005
MACROscope (580.2 kB PDF)
01-11-2005
MACROscope (630.2 kB PDF)
01-10-2005
MACROscope (472.8 kB PDF)
01-09-2005
MACROscope (512.3 kB PDF)
01-08-2005
MACROscope (490.1 kB PDF)
01-07-2005
MACROscope (448.2 kB PDF)
01-06-2005
MACROscope (543.4 kB PDF)
01-05-2005
MACROscope (544.4 kB PDF)
01-04-2005
MACROscope (426.7 kB PDF)
01-03-2005
MACROscope (501.3 kB PDF)
01-02-2005
MACROscope (493.1 kB PDF)
01-01-2005
MACROscope (526.6 kB PDF)
01-12-2004
MACROscope (480.4 kB PDF)
01-11-2004
MACROscope (486.7 kB PDF)
01-10-2004
MACROscope (571.4 kB PDF)
01-09-2004
MACROscope (435.1 kB PDF)
01-08-2004
MACROscope (492.6 kB PDF)
01-07-2004
MACROscope (477.6 kB PDF)
01-06-2004
MACROscope (483.4 kB PDF)
01-05-2004
MACROscope (440.4 kB PDF)
01-04-2004
MACROscope (566.7 kB PDF)
01-03-2004
MACROscope (495.5 kB PDF)
01-02-2004
MACROscope (499.3 kB PDF)
01-01-2004
MACROscope (582.3 kB PDF)
01-12-2003
MACROscope (465.5 kB PDF)
01-11-2003
MACROscope (584.8 kB PDF)
01-10-2003
MACROscope (675.6 kB PDF)
01-09-2003
MACROscope (505.8 kB PDF)
01-08-2003
MACROscope (555.3 kB PDF)
01-07-2003
MACROscope (538.4 kB PDF)
01-06-2003
MACROscope (499.3 kB PDF)
01-05-2003
MACROscope (523.4 kB PDF)
01-04-2003
MACROscope (573.2 kB PDF)
01-03-2003
MACROscope (546.1 kB PDF)
01-02-2003
MACROscope (579.2 kB PDF)
01-01-2003
MACROscope (573.8 kB PDF)
01-12-2002
MACROscope (584.5 kB PDF)
01-11-2002
MACROscope (529.0 kB PDF)
01-10-2002
MACROscope (556.8 kB PDF)
01-09-2002
MACROscope (1381.1 kB PDF)
01-08-2002
MACROscope (1072.6 kB PDF)
01-07-2002
MACROscope (1302.3 kB PDF)
01-06-2002
MACROscope (842.5 kB PDF)
01-05-2002
MACROscope (1151.1 kB PDF)
01-04-2002
MACROscope (1001.4 kB PDF)
01-03-2002
MACROscope (728.0 kB PDF)
01-01-2002
MACROscope (433.4 kB PDF)
01-12-2001
MACROscope (294.7 kB PDF)
01-11-2001
MACROscope (276.5 kB PDF)
01-10-2001
MACROscope (279.1 kB PDF)
01-09-2001
MACROscope (275.6 kB PDF)
01-08-2001
MACROscope (280.8 kB PDF)
01-06-2001
MACROscope (270.7 kB PDF)
01-05-2001
MACROscope (274.8 kB PDF)
01-04-2001
MACROscope (291.4 kB PDF)
01-03-2001
MACROscope (308.0 kB PDF)
01-02-2001
MACROscope (323.5 kB PDF)
01-01-2001
MACROscope (305.8 kB PDF)
01-12-2000
MACROscope (706.7 kB PDF)
01-11-2000
MACROscope (670.6 kB PDF)
01-10-2000
MACROscope (637.2 kB PDF)
01-09-2000
MACROscope (696.5 kB PDF)
01-08-2000
MACROscope (315.4 kB PDF)
01-07-2000
MACROscope (478.1 kB PDF)
01-06-2000
MACROscope (285.3 kB PDF)
01-04-2000
MACROscope (268.3 kB PDF)
01-03-2000
MACROscope (277.5 kB PDF)
01-02-2000
MACROscope (270.5 kB PDF)
01-01-2000
MACROscope (731.1 kB PDF)
01-11-1999
MACROscope (220.5 kB PDF)
01-10-1999
MACROscope (220.4 kB PDF)
01-09-1999
MACROscope (203.8 kB PDF)
01-08-1999
MACROscope (189.2 kB PDF)
01-07-1999
MACROscope (181.2 kB PDF)
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