Markets Actual Q4 Q1 Q2 Q3 2023
Currency 4.83 5.06 5.18 5.3 5.43 5.69
Stock Market (points) 48070.03 43939 41999 40142 38367 35052
Government Bond 10Y (%) 6.90 7.4 7.64 7.89 8.14 8.68

Overview Actual Q4 Q1 Q2 Q3 2023
GDP Growth Rate (%) -2.10 -0.2 0.9 0.8 0.7 0.6
GDP Annual Growth Rate (%) 5.50 0.5 1.2 2.4 1.8 4
Unemployment Rate (%) 4.80 5 5.5 5.8 6.3 6.5
Inflation Rate (%) 17.20 18.5 15.5 14.2 10 7.5
Inflation Rate MoM (%) 1.60 0.6 0.5 0.5 0.2 0.6
Interest Rate (%) 6.75 7 7 7 6.75 6.25
Balance of Trade (EUR Million) -1452.00 -1200 -1800 -1300 -1300 -600
Current Account (EUR Million) -1735.00 -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) -18.80 -20.5 -18 -15.5 -10.5 -3
Manufacturing PMI (points) 43.00 47.3 51.5 52.8 52.8 52.6
Consumer Confidence (points) -44.20 -50 -45.8 -40.8 -26 -15
Retail Sales MoM (%) 1.50 -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 (%) -2.10 -0.2 0.9 0.8 0.7 0.6
GDP Annual Growth Rate (%) 5.50 0.5 1.2 2.4 1.8 4
GDP (USD Billion) 674.05 660 660 660 660 695
GDP Constant Prices (PLN Million) 656968.80 628750 699127 660536 672736 727092
Gross Fixed Capital Formation (PLN Million) 100342.90 104345 154179 82023 102751 160346
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 3.5 3.5 3.5 3.5
GDP from Agriculture (PLN Million) 15018.90 14708 14083 16275 15379 14646
GDP from Construction (PLN Million) 43252.30 41432 46152 27301 44290 47998
GDP from Manufacturing (PLN Million) 99601.10 100982 136565 115076 101992 142028

Labour Actual Q4 Q1 Q2 Q3 2023
Unemployment Rate (%) 4.80 5 5.5 5.8 6.3 6.5
Long Term Unemployment Rate (%) 0.90 1.2 1.2 1.2 1.2 1.2
Youth Unemployment Rate (%) 8.40 8.6 9.1 9.4 9.9 10.1
Labour Costs (points) 139.06 139 126 139 145 129
Wages (PLN/Month) 6156.25 6240 6451 6547 6415 6612
Wages in Manufacturing (PLN/Month) 6206.36 6216 6591 6627 6552 6756
Wage Growth (%) 12.70 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 60.00 60 60 60 60 60
Retirement Age Men 65.00 65 65 65 65 65
Labor Force Participation Rate (%) 57.40 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 (%) 17.20 18.5 15.5 14.2 10 7.5
Inflation Rate MoM (%) 1.60 0.6 0.5 0.5 0.2 0.6
Consumer Price Index CPI (points) 225.70 228 239 244 254 257
Core Inflation Rate (%) 9.90 9.8 7.5 6.2 5 4.5
GDP Deflator (points) 113.00 130 134 131 129 144
Producer Prices (points) 144.50 145 147 157 163 154
Producer Prices Change (%) 25.50 21 17 15 7 5
Food Inflation (%) 19.30 15 13 9 7 7
Harmonised Consumer Prices (points) 131.40 134 141 143 148 151

Money Actual Q4 Q1 Q2 Q3 2023
Interest Rate (%) 6.75 7 7 7 6.75 6.25
Money Supply M1 (PLN Million) 1600835.40 1699332 1699332 1699332 1699332 1699332
Interbank Rate (%) 7.18 7.43 7.43 7.43 7.18 6.68
Money Supply M2 (PLN Million) 2033757.00 1952016 1952016 1952016 1952016 1952016
Money Supply M3 (PLN Million) 2044023.10 2050000 2070000 2130000 2140000 2150000
Foreign Exchange Reserves (USD Million) 154824.70 185000 185000 185000 185000 191000
Deposit Interest Rate (%) 6.25 6.25 6.5 6.5 6.5 6
Private Debt to GDP (%) 119.50 118 118 118 118 115
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) -1452.00 -1200 -1800 -1300 -1300 -600
Current Account (EUR Million) -1735.00 -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) 27462.00 28000 27800 26800 25800 26100
Exports (EUR Million) 26010.00 26800 26000 25500 24500 25500
Foreign Direct Investment (EUR Million) 203380.50 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) -29900.00 -56200 -56200 -56200 -56200 -50200
Government Spending (PLN Million) 121343.30 116062 141809 115538 124256 147481
Government Spending to GDP (% of GDP) 44.20 43 43 43 43 41
Government Revenues (PLN Million) 491937.00 434000 434000 434000 434000 445000
Government Debt (PLN Million) 1192004.60 1151000 1151000 1151000 1151000 1172000
Fiscal Expenditure (PLN Million) 521837.00 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) -18.80 -20.5 -18 -15.5 -10.5 -3
Manufacturing PMI (points) 43.00 47.3 51.5 52.8 52.8 52.6
Industrial Production (%) 10.90 5.1 2.1 4.5 4.2 6.4
Industrial Production Mom (%) 0.30 0.7 0.7 0.7 0.7 0.7
Manufacturing Production (%) 11.70 4 2.8 2.8 2.8 4
Car Production (Thousand Units) 16.80 37 37 37 37 45
Car Registrations 33753.00 59400 59400 59400 59400 66400
Mining Production (%) 18.70 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) -44.20 -50 -45.8 -40.8 -26 -15
Retail Sales MoM (%) 1.50 -0.5 -0.5 0.6 0.4 0.5
Retail Sales YoY (%) 21.50 3 3 3 3 3
Consumer Spending (PLN Million) 376466.60 368840 345795 390485 385502 359627
Personal Savings (%) 1.23 14 14 14 14 12
Households Debt to Income (%) 55.90 61 61 61 61 60
Gasoline Prices (USD/Liter) 1.29 1.28 1.33 1.38 1.43 1.54
Consumer Credit (PLN Million) 814771.80 841538 830824 833504 837456 864057

Housing Actual Q4 Q1 Q2 Q3 2023
Construction Output (%) 6.10 3 3 3 3 3
Housing Index (points) 160.30 152 152 152 152 159
Building Permits 65439.00 109800 109800 109800 109800 115100