Poland Economic Outlook
September 8, 2020GDP plummeted at a record pace in Q2 as the Covid-19 crisis hit all areas of the economy. Lockdown measures slammed household and capital spending, while on the external front, muted European demand and disrupted supply chains pummeled exports. However, public expenditure growth did pick up pace amid wide-ranging fiscal relief packages. Turning to Q3, incoming data hints at firming activity. In July, industrial output gained traction on rising manufacturing activity, while retail sales rebounded. Moreover, although the PMI showed that private-sector activity eased somewhat in August from July’s two-year high amid renewed coronavirus concerns, it remained in expansionary territory. Meanwhile, on 20 August, the government approved a revised budget, projecting a fiscal shortfall of 12% of GDP this year, up from 8.4% previously and reflecting the impact of the pandemic on public finances.
Poland Economic GrowthGDP is expected to contract markedly this year as containment measures drag on domestic activity, while suppressed global demand hammers exports. Although the government’s substantial fiscal stimulus should mitigate the fallout and provide support for a rebound ahead, a potential second wave of the virus and heightened economic uncertainty cloud the outlook. FocusEconomics analysts see the economy contracting 4.0% in 2020, which is up 0.1 percentage points from last month’s forecast, and growing 4.4% 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
September 15, 2020
Consumer prices dropped 0.10% from the previous month in August, following July’s 0.20% drop.
September 1, 2020
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) dropped to 50.6 in August from 52.8 in July, which had marked an over two-year high.
September 1, 2020
Consumer prices dropped 0.10% over the previous month in August, a softer fall than the 0.20% decline recorded in July, according to a preliminary reading.
August 31, 2020
A second reading confirmed that GDP fell at a record-breaking pace of 8.2% year-on-year in the second quarter, contrasting the 2.0% expansion recorded in the first quarter, as the full impact of the coronavirus shock took its toll on the economy.
August 25, 2020
Manufacturing-sector business confidence came in at minus 6.6 in August, up from July's minus 10.5.