Poland Economic Outlook
February 6, 2018Recently released data showed that GDP grew 4.6% in 2017, marking the strongest growth reading in six years. A rebound in fixed investment on the back of recovering inflows of EU funds and a stronger expansion in household spending were the main drivers of growth. Despite a marginal uptick in December, the unemployment rate was on a downward trend throughout 2017. This, together with accommodative financing conditions and robustly rising wages, translated into buoyant consumer spending. According to the business confidence indicator, 2018 started on a solid footing: In January business sentiment surged to an over nine-year high, as firms grew far more optimistic on current and future production levels. On 30 January, President Duda signed the 2018 budget into law. The budget includes a planned fiscal deficit of 2.7% of GDP, below the EU’s ceiling of 3.0% and less optimistic than the one forecast by FocusEconomics panel.
Poland Economic GrowthThis year household spending will continue to increase at a healthy rate, buttressed by rising wages and a tight labor market; however, rising inflation and less favorable financing conditions will lead to a moderation in growth. On the other hand, the expansion in fixed investment is expected to strengthen, spurred by an increased absorption of EU funds. Downside risks stem primarily from troubled political relations with the EU. FocusEconomics panelists expect GDP to grow 3.9% in 2018, up 0.1 percentage points from last month’s forecast, and 3.4% in 2019.
Poland Economy Data
5 years of Poland economic forecasts for more than 30 economic indicators.
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|Bond Yield||3.45||-0.30 %||Feb 22|
|Exchange Rate||3.39||-0.53 %||Feb 22|
|Stock Market||62,717||-1.13 %||Feb 22|
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Poland Economic News
February 23, 2018
Retail sales rose 8.2% from the same month a year earlier in January, accelerating from December’s 6.0% year-on-year increase.
February 23, 2018
In February, sentiment in the manufacturing sector remained broadly unchanged, according to the Business Tendency Survey released by the Central Statistical Office (GUS-BTS).
February 20, 2018
According to the Central Statistical Office (GUS), industrial production increased 8.6% in January from the same month last year, gaining considerable steam from December’s soft 2.7% expansion.
February 14, 2018
Economic growth picked up pace in the fourth quarter of 2017.
February 8, 2018
As largely expected by market analysts, the National Bank of Poland (NBP) kept the reference rate unchanged at a record low of 1.50% at its 6–7 February monetary policy meeting.