Polish retail sales went up by 9.3% YoY in June after an 11.2% increase in May, Eurostat, the EU’s statistics agency, reported on August 3. Month on month, retail sales went down by 1%, the agency also said. Eurostat annual growth figures are work-day adjusted, while the monthly growth figures are also seasonally adjusted. Eurostat…
Poland’s Purchasing Managers’ Index (PMI) fell to 42.1 points in July from 44.4 points in June, economic researcher S&P Global reported on August 1. Economists polled by PAP predicted the PMI would reach 43.7 points in July. The July reading was the lowest since May 2020. High inflation and lower demand resulting from poor economic…
Poland’s inflation, which reached 15.5% in July, would start going down after the summer holidays and would fall within the central bank’s target range in 2024, said Adam Glapinski, governor of the National Bank of Poland (NBP). “Of course, we have a very acute inflation,” Glapinski told the Sieci weekly on August 1. “It will…
Poland recorded a PLN 27.7-billion (EUR 5.78-billion) state budget surplus after the first six months of 2022, the Ministry of Finance said. Poland’s budget revenue reached PLN 263.6 billion (EUR 54.92) in January-June 2022 and was PLN 29.7 billion (EUR 6.19 billion) or 12.7% higher compared to the same period of 2021, the ministry said.…
The Standard & Poor’s (S&P) Global Ratings agency has lowered Poland’s GDP growth forecast in 2023 from the April figure of 3.1% to 2.1%, but raised its estimate for this year from 3.6% to 4.5%. The agency forecasts GDP growth in Poland in 2024 at 2.6% and at 2.4% in 2025. S&P forecasts the general…
Poland’s unemployment rate fell to 4.9% in June from 5.1% in May, the Central Statistical Office (GUS) reported on July 25. The number of registered unemployed measured 818,000 in June against 850,200 in the previous month, GUS also said. Earlier, the Family and Social Policy Ministry estimated June’s unemployment at 4.9%. (The First News/Business World…
The Sejm, the lower house of parliament, on July 22 passed the government’s 2021 budget report and execution of the budget in a 228 to 216 vote with one abstention. According to the report, budget revenues for 2021 came to PLN 494.8 billion (EUR 103.6 billion) against a planned PLN 482.9 billion (EUR 101.1 billion),…