Current Account in Poland
Poland - Current AccountLast year’s fourth-quarter slowdown confirmed widely-held expectations. Although fixed investment growth moderated, domestic demand remained a force to be reckoned with. Household spending remained in the driver’s seat despite decelerating somewhat amid slower employment gains. Notably, a pullback in the Eurozone failed to bruise export growth. Available first-quarter data, meanwhile, suggests that last year’s industrial-sector woes persisted at the outset of the year. Eyeing last year’s impressive fiscal outturn and this autumn’s parliamentary elections, the Law and Justice (PiS) government unveiled an additional PLN 40 billion (EUR 9.3 billion) spending plan on 23 February. The expanded “Family 500+” program is expected to boost household spending and should effectively cushion this year’s cool-off without stretching the fiscal deficit beyond EU-mandated limits.
Poland - Current Account Data
|Current Account (% of GDP)||-1.3||-2.1||-0.6||-0.3||0.3|
5 years of economic forecasts for more than 30 economic indicators.
Poland Current Account Chart
Source: National Bank of Poland and FocusEconomics calculations.
|Bond Yield||2.88||-0.30 %||Mar 11|
|Exchange Rate||3.82||-0.53 %||Mar 11|
|Stock Market||59,470||-1.13 %||Mar 11|
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March 6, 2019
As widely expected by market analysts, the National Bank of Poland (NBP) kept the reference rate unchanged at a record-low 1.50% at its 5–6 March monetary policy meeting.
March 1, 2019
The manufacturing Purchasing Managers’ Index (PMI), released by IHS Markit, dropped to 47.6 points in February (January: 48.2 points).
February 28, 2019
Poland’s economy grew 4.9% year-on-year in unadjusted terms in the fourth quarter of last year, according to a preliminary estimate released by the Statistical Office (GUS) on 28 February.
February 25, 2019
Manufacturing-sector business confidence recovered further in February, according to the business tendency indicators released by the Central Statistical Office (GUS).
February 21, 2019
Nominal retail sales rose 6.6% year-on-year in January, up from December’s 4.7% rise.