A relatively quiet week ahead in the EMEA and Latam region, but keep an eye on unemployment figures from Hungary and Poland, as well as GDP figures out of Mexico.
Poland: Solid retail sales may not be enough to curtail the 4Q slowdown
We expect solid retail sales growth in October, despite a mounting number of Covid-19 cases in Poland. Data on transaction activity indicates that Poles are reluctant to stop spending and even stepped up purchases ahead of the expected lockdown in November. Still, with new restrictions in place this month the economy should significantly slow in 4Q, as a more pronounced recovery is delayed past 1Q21.
Hungary: Unemployment to rise
We see a chance for the unemployment rate to start rising again in Hungary as the impact of labor market programs fades and companies face severe adversity amidst a second wave of Covid-19.
EMEALatam Economic Calendar
(Click on image to enlarge)
Source: ING, Refinitiv
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