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Macroeconomic outlook report: Poland

Third quarter of 2019

During the third quarter of the year, the Polish economy slowed by 0.70 p.p. its year-over-year rate to 3.90%. This was explained by the worse performance of the external and internal sector. As for the labor market, the unemployment rate stood at 3.10% in the third quarter of 2019, falling 0.10 p.p. with respect to 2Q19. For its part, the year-over-year growth rate of employment decreased by 0.20 p.p. to 2.10%. The zloty depreciated against the euro in the third quarter of 2019, with the exchange rate at PLN 4.35/€, PLN 0.06/€ higher than in 2Q19.

Macroeconomic overview

  • During the third quarter of 2019, Poland's GDP slowed 0.70 p.p. its year-on-year rate to 3.90 %.
  • The behavior of the GDP was explained by the worse performance of the external and internal sector.
  • In the labor market, the unemployment rate stood at 3.10% in the third quarter of 2019, 0.10 p.p. lower than 2Q19. For its part, the year-on-year growth rate of employment slowed by 0.20 p.p. to 2.10%.
  • During 3Q19, the zloty depreciated against the euro, with the average exchange rate at PLN 4.35/€, PLN 0.06/€ higher than in 2Q19.
  • During this quarter, inflation increased by 0.40 p.p. to a year-on-year growth rate of 2.80% in the third quarter of the year.

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© GMS Management Solutions, S.L., 2020. All rights reserved. The information contained on this publication is of a general nature and does not constitute a professional opinion or an advisory service. The data used in this publication come from public sources. GMS Management Solutions, SL assumes no liability for the veracity or accuracy of such data.