Industry in Poland
Poland - Industry
Industrial production collapses at record pace in April amid lockdown
Industrial output crashed an all-time sharp 24.6% year-on-year in April, following the milder 2.3% drop recorded in March, according to the Central Statistical Office (GUS). April’s marked contraction was due to lockdown measures fully entered into force. The dive recorded in April mainly reflected plunging manufacturing activity and a notable fall in mining and quarrying output. Meanwhile, the production of utilities and water supply recorded a slight dip.
Consequently, annual average growth in industrial output fell to 0.2% in April from 3.1% in March, marking the weakest record since August 2013.
FocusEconomics panelists expect industrial output to fall 5.3% in 2020, which is down 1.3 percentage points from last month’s forecast. For 2021, the panel expects growth in industrial output of 5.5%.
Poland - Industry Data
| 2014 | 2015 | 2016 | 2017 | 2018 | |
|---|---|---|---|---|---|
| Industrial Production (annual variation in %) | 3.5 | 4.8 | 2.9 | 6.5 | 5.8 |
Poland Industry Chart
Source: Central Statistics Office.
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: Inflation at six-month low on plunging fuel prices in May
May 29, 2020
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Poland: Growth weakens to over-six year low in Q1 but economy shows resilience
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Poland: Central Bank slashes rates to fresh all-time low in May; reaffirms quantitative easing
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On 28 May, the National Bank of Poland (NBP) slashed the reference rate from 0.50% to a new record low of 0.10%, in a further bid to mitigate the fallout from coronavirus.
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Poland: Retail sales contract at sharpest pace on record in April
May 25, 2020
Retail sales nosedived 22.6% year-on-year in April amid lockdown (March: -7.0% yoy), marking the steepest fall on record.
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Poland: Business sentiment recovers some lost ground but remains abysmal in May
May 25, 2020
Manufacturing-sector business confidence recovered some lost ground in May, although it remained deeply entrenched in pessimist terrain due to measures to contain the spread of Covid-19.
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