Current Account in Poland
Poland - Current Account (billions of Euros)Economic activity lost some momentum in Q3, according to an advanced estimate, with growth more than halving as the favorable base effect receded. Nevertheless, growth remained relatively strong, buoyed by solid household spending and exports. Turning to Q4, the economy appears set to end the year on a strong footing. In October, the manufacturing PMI inched up slightly on stronger growth in output and demand, while retail sales hit a five-month high, indicating continued growth in consumer spending. However, a rapid uptick in inflation could weigh on activity in the final stretch of the year, although a recent temporary tax cut on fuel, gas and electricity should help soften the impact on households. Meanwhile, tensions at the border with Belarus have the potential to escalate further, with the Belarussian government threatening to cut off Russian gas supplies to Europe if more EU sanctions are imposed.
Poland - Current Account (EUR bn) Data
|Current Account Balance (EUR bn)||-2.4||-2.2||0.3||-5.0||2.5|
5 years of economic forecasts for more than 30 economic indicators.
Poland Current Account (EUR bn) 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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November 25, 2021
Business confidence tumbled to minus 10.5 in November from minus 6.3 in October.
November 23, 2021
Retail sales grew 14.4% in year-on-year terms in October, which was above September's 11.1% increase.
November 22, 2021
Industrial output expanded 7.8% in year-on-year terms in October, which was a deterioration from September's 8.8% increase.
November 15, 2021
Consumer prices rose 1.10% in October over the previous month, picking up from September's 0.70% increase.
November 12, 2021
According to a preliminary estimate, GDP growth lost steam in the third quarter, slowing to 5.1% year-on-year from 11.2% in the second quarter.