Macroeconomic outlook report: Poland

During the second quarter of the year, the Polish economy slowed by 0.19 p.p. its year-over-year rate to 4.50%. This was explained by the worse performance of the external sector. As for the labor market, the unemployment rate stood at 3.20% in the second quarter of 2019, falling 0.70 p.p. with respect to 1Q19. For its part, the year-over-year growth rate of employment decreased by 0.20 p.p. to 2.30%. The zloty appreciated against the euro in the second quarter of 2019, with the exchange rate at PLN 4.29/€, PLN 0.01/€ lower than in 1Q19.

Macroeconomic overview

• During the second quarter of 2019, Poland's GDP slowed 0.19 p.p. its year-on-year rate to 4.50%.
• The behavior of the GDP was explained by the worse performance of the external sector.
• In the labor market, the unemployment rate stood at 3.20% in the second quarter of 2019, 0.70 p.p. lower than 1Q19. For its part, the year-on-year growth rate of employment slowed by 0.20 p.p. to 2.30%.
• During 2Q19, the zloty appreciated against the euro, with the average exchange rate at PLN 4.29/€, PLN 0.01/€ lower than in 1Q19.
• During this quarter, inflation increased by 1.20 p.p. to a year-on-year growth rate of 2.40% in the second quarter of the year.

For more information, click here to access the executive document in pdf.