– Although the newest industrial production figures – a year to year increase of 2.3 percent – does not exceed the expectations of the market, it can be a cause for optimism – Łukasz Kozłowski, expert of Employers of Poland comments recent GUS figures.
In recent months, publication of Poland’s macroeconomic indexes has brought mostly disappointment. July PMI – below the 50-point threshold, on the edge separating increase and decrease in economic activity in industry – also seemed to herald another unpleasant surprise.
However, it appears that this time, the PMI index paints an excessively pessimistic picture of the situation in Polish industry. One should be aware that GUS research does not corroborate these signals. It shows a decrease in activity, but not as significant as suggested by PMI. Polish economy – even though it is now experiencing a decrease in GDP growth dynamics, as well as the impact of the Russian trade embargo and stagnation in the eurozone – is still in a revival phase. Our country will most likely remain on the road of increasing economic growth dynamics, though it will be more bumpy than expected.
Łukasz Kozłowski, expert of Employers of Poland