Current Account in Poland
Poland - Current AccountThe economy seemingly lost some steam in Q4 2019, following a notable slowdown in Q3 prompted by a lackluster industrial sector. Industrial activity weakened again in October-November, due to headwinds coming from the German economy, while diving business confidence throughout Q4 provides further clues of softening private-sector activity. The picture is more mixed when it comes to consumers, however. Somewhat softer but still healthy retail sales, solid wage growth and a tight labor market in the first two months of Q4 suggest household spending continued to support growth. Turning to 2020, a sizable minimum wage hike with effect from 1 January is set to benefit private consumption, although it risks hampering job creation. Meanwhile, at end-December, the government adopted a balanced 2020 budget, which, among other measures, includes a 10% excise tax hike on alcoholic drinks and tobacco, which could result in higher inflation.
Poland - Current Account Data
|Current Account (% of GDP)||-1.3||-2.1||-0.6||-0.5||0.1|
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||2.07||-0.30 %||Dec 31|
|Exchange Rate||3.79||-0.53 %||Jan 01|
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January 15, 2020
Consumer prices surged 0.8% over the previous month in December, following November’s 0.1% uptick, according to a second release by the Poland’s Statistical Institute (GUS).
January 8, 2020
The National Bank of Poland (NBP) kept the reference rate unchanged at a record low of 1.50% at its 7–8 January monetary policy meeting, as had been widely expected.
January 7, 2020
Consumer prices surged 0.8% over the previous month in December, following November’s 0.1% uptick, according to provisional data released by the Poland’s Statistical Institute (GUS).
January 2, 2020
Manufacturing-sector business confidence fell again in December, according to the business tendency indicator released by Statistics Poland.
January 2, 2020
The manufacturing Purchasing Managers’ Index (PMI), released by IHS Markit, rose to 48.0 in December from November’s 46.7.