Economic calendar 20-26/10/2025: A bag of statistics from the Polish economy and delayed inflation in the USA
The macroeconomic week will be full of data from the Polish economy. A delayed report on US inflation is scheduled to be published by the local Bureau of Labor Statistics. The earnings season will be in full swing on Wall Street, and the first reports will also appear on the domestic WSE. In Argentina, there will be another clash between libertarians and socialists.
Monday, October 20
The People's Bank of China is to decide on the interest rates. A package of data on GDP for the third quarter, industrial production, retail sales and real estate prices will also arrive from China. Germany will show producer price inflation at 8 a.m.
At 10:00 the first package of macroeconomic data for Poland will appear. We will then learn the September statistics of industrial production, prices of construction and assembly production as well as data on employment and average wages in the enterprise sector.
At the same time, data on the current account balance from the euro zone will arrive. This is where the Monday macroeconomic calendar practically ends. Although further speeches by Federal Reserve officials are scheduled for the afternoon and evening, in the case of the Fed, the course for the coming quarters seems to be more or less clear – rate cuts.
Quercus will publish its quarterly report on the WSE, and for Votum it will be the first day of trading without dividend.
Tuesday, October 21
More data from Poland will arrive. As usual, o At 10:00 construction and assembly production statistics will appear.
In the rest of Europe, we have Switzerland's trade balance and the Hungarians' decision on the level of interest rates scheduled for 2 p.m.
Half an hour later, we will also know the September inflation reading in Canada. Christopher Waller from the Fed has two speeches scheduled for this day. In addition, in the USA the change in oil stocks will be shown (according to API).
Quarterly results on Wall Street will be shown by, among others: Netflix, Coca-Cola, GE Aerospace, General Motors, Philip Morris, Lockheed Martin and Northrop Grumman.
Wednesday, October 22
Continuation of data from Poland. This time it will be the October readings of the consumer confidence survey and primarily retail sales data. At 2 p.m., the NBP will present money supply statistics.
Before the Poles, the British will show a package of inflation data (8.00), and the trade balance data will be shown by the Japanese (1.50). If it weren't for the shutdown in the USA, we would have learned data on changes in fuel stocks collected by the government agency EIA (Energy Agency) on that day.
Quarterly results will be published by, among others: IBM and Tesla and German SAP – the largest company in the DAX index.
The financial reports of Kęty and Orange Polska will be available on the WSE.
Thursday, October 23
We have this day on the calendar Central Statistical Office data on the unemployment rate in Poland. We will also know a similar measure in relation to Norway. The French will show the business confidence index, and the British will show the orders index published by the Confederation of British Industry.
On this day, the Turks will decide on the one-week interest rate. In the afternoon, attention may shift overseas, where, if U.S. federal government officials return to work, data on unemployment benefits applications in the United States may be published. In addition, the schedule shows data on home sales and the Kansas City Fed index reading.
Quarterly results will be shown by, among others: Amazon, Intel, Blackstone, and Newmont Goldcorp – which is the most expensive gold mining company.
Asseco SEE and Aqua will report from WSE companies.
Friday, October 24
At night we will learn about inflation from Japan. Morning in Europe is UK retail sales data. At 8:45 there will be data on French consumer sentiment. It will also be a day with PMI indicators. From midnight there will be preliminary readings for the most important economies of the world: Japan (2:30), France (9:15), Germany (9:30), the euro zone (10:00), Great Britain (10:30) and the USA (15:45 – an indicator prepared by an independent entity).
We also get to know delayed US CPI inflation report for September. The Bureau of Labor Statistics said it will release the September Consumer Inflation Report on Oct. 24 to help the Social Security Administration make its annual cost-of-living adjustment for 2026 for millions of retirees and other benefit recipients. The publication of the Consumer Price Index (CPI) report was originally scheduled for October 15.
Data on consumer sentiment prepared by the University of Michigan will finally arrive from across the Atlantic.
Millennium Bank is scheduled to publish its results on the WSE on that day. In turn, for Pamapol shareholders, this will be the last day of subscription for the sale of shares at PLN 2.70 each in the tender offer announced by Paweł Szataniak, Mariusz Szataniak and the company.
Sunday, October 26
Parliamentary elections will be held in Argentina. These will be mid-term elections during which Argentines will elect half of the members of the Chamber of Deputies and one third of the members of the Senate.
President Javier Milea's camp, La Libertad Avanza, is entering the elections at a difficult moment. According to polls, support for President Milea is lower than opposition to his rule. In recent months, the president's party has suffered severe defeats in local elections, including: in the province of Buenos Aires, where it obtained 34 percent. compared to 47 percent for the Peronist left. It is true that in recent years inflation in Argentina has dropped to 31.8%. in September (from 209% in September 2024), but the social costs of reforms (unemployment and increased poverty) weakened support. Argentina will therefore once again be the site of an ideological referendum between Milei's radical economic liberalism, a social populism and statism of Peronists.
Michal Kubicki
