Poland Economic Outlook
bet360备用网址March 10, 2020The economy shifted into a lower gear in the final quarter of last year, restrained by heavy destocking and cooling household spending. On the other hand, sustained investment dynamics and a larger contribution from the external sector cushioned the slowdown somewhat. Turning to the first quarter of this year, growth looks set to slow down significantly, hit by the impact of coronavirus. Consumer confidence dived to an over eight-year low in February, which, coupled with milder retail sales growth and an uptick in the unemployment rate in January, spells trouble for consumer spending. Meanwhile, the virus and prolonged weakness in Germany will be hitting investment activity. In early March, Parliament approved a special law in efforts to cushion the economic impacts from Covid-19. Earlier in February, Parliament voted a balanced budget for 2020, the first since the fall of communism.
Poland Economic GrowthGrowth will cool in 2020, constrained by weaker private investment and an unsupportive EU environment. However, the pace of expansion should be healthy, as robust wage increases, tax cuts and a tight labor market buttress household spending. Weaker than expected activity in the EU and disruptions to global supply chains stemming from coronavirus pose the main downside risks. FocusEconomics analysts see growth at 3.3% in 2020, which is down 0.1 percentage points from last month’s forecast, and 3.2% in 2021.
Poland Economy Data
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|Bond Yield||2.07||-0.30 %||Dec 31|
|Exchange Rate||3.79||-0.53 %||Jan 01|
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Poland Economic News
March 13, 2020
bet360备用网址Consumer prices surged 0.7% over the previous month in February, following January’s 0.9% jump, according to a flash release by the Poland’s Statistical Institute (GUS).
March 4, 2020
The National Bank of Poland (NBP) kept the reference rate unchanged at a record low of 1.50% at its 3–4 March monetary policy meeting.
March 2, 2020
The manufacturing Purchasing Managers’ Index (PMI), released by IHS Markit, ticked up to a six-month high of 48.2 in February from January’s 47.4.
Poland: Growth falls to three-year low growth in Q4 2019 amid destocking and weaker consumer spending
March 2, 2020
In the final quarter of last year, the economy grew 3.2% year-on-year in unadjusted terms, according to a second estimate released by Poland’s Statistical Institute (GUS).
February 26, 2020
Manufacturing-sector business confidence lost some ground in February, according to the business tendency indicator released by Statistics Poland.