Consumption in Poland
Poland - Consumption
Growth accelerates in Q3
The Polish economy sped up in Q3. According to preliminary data released by the Central Statistics Office on 14 November, the economy expanded 4.7% annually in Q3, above Q2’s revised 4.0% (previously reported: +3.9% year-on-year). The reading represented a multi-year high and beat market expectations of softer 4.5% annual growth. Although a breakdown by components is not yet available, the strong expansion in retail sales recorded throughout Q3 and the falling unemployment rate suggest that growth once again came on the back of soaring private consumption.
On a seasonally-adjusted quarter-on-quarter basis, GDP growth accelerated from a revised 0.9% expansion in Q2 (previously reported: +1.1% quarter-on-quarter) to a stronger 1.1% increase in Q3. More detailed data will be released on 30 November.
FocusEconomics Consensus Forecast panelists expect that the economy will grow 3.4% in 2018 which is unchanged from last month’s forecast. For 2019, panelists see the economy growing 3.1%.
Poland - Consumption Data
|Consumption (annual variation in %)||0.8||0.3||2.6||3.0||3.8|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||3.41||-0.30 %||Nov 17|
|Exchange Rate||3.59||-0.53 %||Nov 17|
|Stock Market||63,047||-1.13 %||Nov 17|
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November 20, 2017
According to the Central Statistical Office (GUS), industrial production jumped to an over seven-year high of 12.3% in October from the same month last year, accelerating notably from September’s 4.3% expansion.
November 17, 2017
Consumer prices increased 0.5% in October, following September’s 0.4% rise and marking the fastest increase in 10 months.
November 14, 2017
The Polish economy sped up in Q3.
November 9, 2017
The National Bank of Poland (NBP) kept the reference rate unchanged at a record-low 1.50% at its 7–8 November monetary policy meeting, in line with market expectations.
November 2, 2017
According to IHS Markit, the manufacturing Purchasing Managers’ Index (PMI) dipped to 53.4 in October from 53.7 a month earlier, remaining well above the 50-point threshold that distinguishes expansion from contraction in the manufacturing sector—where it has been for just over three years, the longest expansionary sequence since the survey started in June 1998. October’ strong print was underpinned by expansions in new orders and output, with the former matching September’s 31-month record growth rate and the latter easing only marginally from the previous month’s print.