Polish Industry Sees Decline, Producer Prices in Deflation 

Poland's industry declines as producer prices hit deflation, GDP growth predicted at 0.4%-0.7% for 2023.


Polish Central Statistical Office’s (GUS) recent data highlight Poland’s industrial production dip of 2.7% in July year-on-year. Additionally, the producer price inflation (PPI) experienced a -1.7% deflation rate, the first in over two years. This year has seen a continuous downtrend in the industry, notably deviating from the predicted -0.6% market consensus. 

Economic forecasts are closely watched as negative metrics impact the GDP. Data shows a GDP decline of 0.5% between April and June, following Q1’s 0.3% dip. Nonetheless, 2023’s GDP growth predictions remain optimistic, estimated between 0.4% and 0.7%. 

Deputy Finance Minister, Artur Soboń, stressed there’s no looming recession. Meanwhile, Paweł Borys of the Polish Development Fund emphasized Poland’s strong economic indicators, citing low unemployment and real wage growth. 

Source: konferencje.rp.pl

Jakub Warzecha

Creative copywriter, archaeologist. Interested in history, technology and military matters. Specializes in marketing communications and application architecture design.

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