Current Account in Poland
Poland - Current Account (billions of Euros)
The economy expanded strongly in the first quarter, beating market expectations. A marked accumulation of stocks shielded against supply side disruptions and drove the acceleration. Strong, albeit softer, private consumption growth amid a healthy labor market further supported activity. The pace of economic growth should moderate in Q2, partially due to a waning low base effect. Industrial activity cooled in April, likely weighed down by supply chain constraints, while inflation continued to soar. Business sentiment remained subdued in April and May, while the PMI moved into contractionary terrain in May. That said, retail sales skyrocketed in April. Meanwhile, the government terminated its agreement with Russia to receive gas, while parliament approved a judicial reform to meet EU demands, paving the way to receive EU recovery funds.Poland - Current Account (EUR bn) Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Current Account Balance (EUR bn) | -2.4 | -2.2 | 0.3 | -5.0 | 2.5 |
Poland Current Account (EUR bn) Chart
Source: National Bank of Poland and FocusEconomics calculations.
Poland Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 2.07 | -0.30 % | Dec 31 |
| Exchange Rate | 3.79 | -0.53 % | Jan 01 |
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Economic News
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Poland: Manufacturing PMI moves further into contractionary terrain in July
August 3, 2022
The S&P Global Manufacturing Purchasing Managers' Index (PMI) came in at 42.1 in July, down from 44.4 in June.
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Poland: Business sentiment falls in July
July 28, 2022
Business confidence fell to 15.6 in July from June's minus 13.0.
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Poland: Central Bank hikes rates by 50 basis points in July
July 27, 2022
At its meeting on 7 July, the National Bank of Poland (NBP) raised the key reference rate by 50 basis points from 6.00% to 6.50%.
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Poland: Industrial output records slowest expansion since October 2021 in June
July 25, 2022
Industrial production expanded 10.4% year on year in June (May: +14.9% yoy).
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Poland: Retail sales growth ebbs in June
July 25, 2022
Retail sales grew 19.9% year on year in June (May: +23.6% yoy).
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