Current Account in Poland
Poland - Current Account (billions of Euros)
Growth slid to a near three-year low in the third quarter, likely restrained by a lackluster industrial sector, but remained healthy nevertheless as solid wage rises and a record-low unemployment rate supported consumer spending. Further declines in survey-based indicators and in industrial production growth in October point to continued softening at the outset of the fourth quarter. Meanwhile, in early November the government approved a pension reform, which plans to transfer assets accumulated in state-guaranteed private pension funds to individual retirement accounts. The move is aimed at strengthening retirement savings and, in passing, providing the government cash to balance the budget in 2020. Subsequently, on 19 November, the new government won a vote of confidence from Parliament, as had been expected. On that occasion, Prime Minister Mateusz Morawiecki reiterated that the cabinet will press on with judicial reform that has raised concern at the EU’s top court, increasing the likelihood of further clashes with the EU ahead.Poland - Current Account (EUR bn) Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Current Account Balance (EUR bn) | -5.0 | -8.5 | -2.3 | -2.3 | 0.7 |
Poland Current Account (EUR bn) Chart
Source: National Bank of Poland and FocusEconomics calculations.
Poland Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 2.08 | -0.30 % | Nov 21 |
| Exchange Rate | 3.89 | -0.53 % | Nov 21 |
| Stock Market | 57,619 | -1.13 % | Nov 21 |
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Economic News
Poland: Manufacturing sector remains mired in contraction in November
December 2, 2019
The manufacturing Purchasing Managers’ Index (PMI), released by IHS Markit, rose to 46.7 in November from October’s 45.6, which had marked the worst reading since June 2009.
Poland: Inflation ticks up in November
November 29, 2019
Consumer prices inched up 0.1% over the previous month in November, following October’s 0.2% uptick, according to provisional data released by the Poland’s Statistical Institute (GUS).
Poland: Growth eases to near three-year low in Q3 but remains upbeat nonetheless
November 29, 2019
The economy grew 3.9% year-on-year in unadjusted terms in the third quarter of this year, according to a second estimate released by Poland’s Statistical Institute (GUS) on 29 November.
Poland: Retail sales growth inches up in October
November 27, 2019
Nominal retail sales increased 5.4% year-on-year in October, slightly above September’s 5.3% rise.
Poland: Business sentiment drops further into pessimistic terrain in November
November 26, 2019
Manufacturing-sector business confidence fell again in November, according to the business tendency indicator released by the Central Statistical Office (GUS).
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