Markets Actual Q4 Q1 Q2 Q3 2023
Currency 4.46 4.54 4.66 4.78 4.9 5.15
Stock Market (points) 55983.89 53627 51166 48816 46579 42401
Government Bond 10Y (%) 6.54 6.62 6.83 7.05 7.28 7.75

Overview Actual Q4 Q1 Q2 Q3 2023
GDP Growth Rate (%) 1.00 0.2 0.9 0.8 0.7 0.6
GDP Annual Growth Rate (%) 3.60 1.5 1.2 2.4 1.8 4
Unemployment Rate (%) 5.10 5 5.5 5.8 6.3 6.5
Inflation Rate (%) 17.40 18.5 15.5 14.2 10 7.5
Inflation Rate MoM (%) 0.70 0.6 0.5 0.5 0.2 0.6
Interest Rate (%) 6.75 6.75 7 6.5 6.5 6
Balance of Trade (EUR Million) -2054.00 -1200 -1800 -1300 -1300 -600
Current Account (EUR Million) -1561.00 -1100 -650 -250 100 590
Current Account to GDP (% of GDP) -0.70 -2 0.5 0.5 0.5 0.5
Government Debt to GDP (% of GDP) 53.80 55.1 51.5 51.5 51.5 51.5
Government Budget (% of GDP) -1.90 -4.1 -4.5 -4.5 -4.5 -4.5
Business Confidence (points) -20.60 -20.5 -18 -15.5 -10.5 -3
Manufacturing PMI (points) 43.40 47.3 51.5 52.8 52.8 52.6
Consumer Confidence (points) -44.00 -50 -45.8 -40.8 -26 -15
Retail Sales MoM (%) -0.80 -0.5 -0.5 0.6 0.4 0.5
Corporate Tax Rate (%) 19.00 19 19 19 19 19
Personal Income Tax Rate (%) 32.00 32 32 32 32 32

GDP Actual Q4 Q1 Q2 Q3 2023
GDP Growth Rate (%) 1.00 0.2 0.9 0.8 0.7 0.6
GDP Annual Growth Rate (%) 3.60 1.5 1.2 2.4 1.8 4
GDP (USD Billion) 674.05 660 660 660 660 695
GDP Constant Prices (PLN Million) 685404.50 711795 660536 673542 697742 740267
Gross Fixed Capital Formation (PLN Million) 113262.60 152807 82023 106429 115301 158920
GDP per Capita (USD) 15549.67 18600 18600 18600 18600 19500
GDP per Capita PPP (USD) 34363.02 34600 34600 34600 34600 35400
Full Year GDP Growth (%) 5.70 4.4 1 1 1 1
GDP from Agriculture (PLN Million) 15018.90 14302 16275 15379 15289 14874
GDP from Construction (PLN Million) 43252.30 46611 27301 44290 44031 48476
GDP from Manufacturing (PLN Million) 99601.10 137924 115076 101992 101394 143441

Labour Actual Q4 Q1 Q2 Q3 2023
Unemployment Rate (%) 5.10 5 5.5 5.8 6.3 6.5
Long Term Unemployment Rate (%) 0.80 1.2 1.2 1.2 1.2 1.2
Youth Unemployment Rate (%) 11.30 11.2 11.7 12 12.5 12.7
Labour Costs (points) 138.25 126 139 145 143 129
Wages (PLN/Month) 6480.67 6451 6547 6415 6688 6612
Wages in Manufacturing (PLN/Month) 6312.28 6591 6627 6552 6550 6756
Wage Growth (%) 13.00 7.6 5 4.2 3.2 2.5
Minimum Wages (EUR/Month) 641.74 640 640 640 640 640
Population (Million) 37.84 37.92 37.92 37.92 37.92 37.88
Retirement Age Women (Years) 60.00 60 60 60 60 60
Retirement Age Men (Years) 65.00 65 65 65 65 65
Labor Force Participation Rate (%) 57.90 57.6 57.6 57.6 57.6 57.8
Employment Change (%) 2.40 1.9 2.1 2.1 2.1 2
Employment Rate (%) 71.40 69.5 69.5 69.5 69.5 69.9

Prices Actual Q4 Q1 Q2 Q3 2023
Inflation Rate (%) 17.40 18.5 15.5 14.2 10 7.5
Inflation Rate MoM (%) 0.70 0.6 0.5 0.5 0.2 0.6
Consumer Price Index CPI (points) 233.40 239 244 254 252 257
Core Inflation Rate (%) 11.00 9.8 7.5 6.2 5 4.5
GDP Deflator (points) 128.73 142 140 146 142 153
Producer Prices (points) 145.80 147 157 163 155 154
Producer Prices Change (%) 22.90 21 17 15 7 5
Food Inflation (%) 22.00 20 16 10 7 4
Harmonised Consumer Prices (points) 135.60 141 143 148 147 151

Money Actual Q4 Q1 Q2 Q3 2023
Interest Rate (%) 6.75 6.75 7 6.5 6.5 6
Money Supply M1 (PLN Million) 1570743.51 1699332 1699332 1699332 1699332 1699332
Interbank Rate (%) 7.10 7.1 7.35 6.85 6.85 6.35
Money Supply M2 (PLN Million) 2057872.21 1952016 1952016 1952016 1952016 1952016
Money Supply M3 (PLN Million) 2071258.22 2050000 2070000 2130000 2140000 2150000
Foreign Exchange Reserves (USD Million) 162314.20 185000 185000 185000 185000 191000
Deposit Interest Rate (%) 6.25 6.25 6.5 6 6 5.5
Private Debt to GDP (%) 119.40 118 118 118 118 115
Cash Reserve Ratio (%) 3.50 0.5 0.5 0.5 0.5 0.5

Trade Actual Q4 Q1 Q2 Q3 2023
Balance of Trade (EUR Million) -2054.00 -1200 -1800 -1300 -1300 -600
Current Account (EUR Million) -1561.00 -1100 -650 -250 100 590
Current Account to GDP (% of GDP) -0.70 -2 0.5 0.5 0.5 0.5
Imports (EUR Million) 30552.00 28000 27800 26800 25800 26100
Exports (EUR Million) 28498.00 26800 26000 25500 24500 25500
Foreign Direct Investment (EUR Million) 238969.70 201500 201500 201500 201500 212500

Government Actual Q4 Q1 Q2 Q3 2023
Government Debt to GDP (% of GDP) 53.80 55.1 51.5 51.5 51.5 51.5
Government Budget (% of GDP) -1.90 -4.1 -4.5 -4.5 -4.5 -4.5
Government Budget Value (PLN Million) 27234.80 -56200 -56200 -56200 -56200 -50200
Government Spending (PLN Million) 124885.60 148959 115538 125643 127134 154918
Government Spending to GDP (% of GDP) 44.20 43 43 43 43 41
Government Revenues (PLN Million) 425936.10 434000 434000 434000 434000 445000
Government Debt (PLN Million) 1205904.55 1151000 1151000 1151000 1151000 1172000
Fiscal Expenditure (PLN Million) 398701.30 490200 490200 490200 490200 495200

Taxes Actual Q4 Q1 Q2 Q3 2023
Corporate Tax Rate (%) 19.00 19 19 19 19 19
Personal Income Tax Rate (%) 32.00 32 32 32 32 32
Sales Tax Rate (%) 23.00 23 23 23 23 23
Social Security Rate (%) 35.85 36.12 35.85 35.85 35.85 35.85
Social Security Rate For Companies (%) 22.14 22.41 22.14 22.14 22.14 22.14
Social Security Rate For Employees (%) 13.71 13.71 13.71 13.71 13.71 13.71

Business Actual Q4 Q1 Q2 Q3 2023
Business Confidence (points) -20.60 -20.5 -18 -15.5 -10.5 -3
Manufacturing PMI (points) 43.40 47.3 51.5 52.8 52.8 52.6
Industrial Production (%) 6.80 5.1 2.1 4.5 4.2 6.4
Industrial Production Mom (%) -0.50 0.7 0.7 0.7 0.7 0.7
Manufacturing Production (%) 9.30 4 2.8 2.8 2.8 4
Car Production (Thousand Units) 31.90 37 37 37 37 45
Car Registrations (Units) 32001.00 59400 59400 59400 59400 66400
Mining Production (%) 4.60 1.6 1.3 1.3 1.3 1.2
Corporate Profits (PLN Million) 78596.30 215000 215000 215000 215000 236000

Consumer Actual Q4 Q1 Q2 Q3 2023
Consumer Confidence (points) -44.00 -50 -45.8 -40.8 -26 -15
Retail Sales MoM (%) -0.80 -0.5 -0.5 0.6 0.4 0.5
Retail Sales YoY (%) 0.70 -2.6 -0.8 0.5 0.1 1.5
Consumer Spending (PLN Million) 380870.60 350061 390485 383328 387726 364063
Households Debt to Income (%) 55.79 61 61 61 61 60
Gasoline Prices (USD/Liter) 1.47 1.53 1.58 1.64 1.71 1.83
Consumer Credit (PLN Million) 805795.67 839091 833504 837456 831266 872655

Housing Actual Q4 Q1 Q2 Q3 2023
Construction Output (%) 3.90 3 3 3 3 3
Housing Index (points) 163.50 152 152 152 152 159
Building Permits (Units) 78713.00 109800 109800 109800 109800 115100