22:37 1 June 2020
Appreciation of zloty against euro and dollar to continue: experts
In June the appreciation of the zloty against the euro and the dollar from the last days of May will persist, the analysts of the Polish Economic Institute (PIE) predict. They also expect an increase in sales of fuels, clothing as well as furniture and home electronics and household appliances on a monthly basis.
As experts pointed out, April was the first month in which the scale of the pandemic was fully revealed in industrial production in the form of nearly 25 percent of decline.
"In May, we forecast a slight upward rebound in production as a consequence of gradual defrosting of the economy and its external environment," the report reads.
PIE reminded that in May we received information about the negative results of the Polish economy for April. In industrial production, the largest decreases were recorded in industries in which international trade has a large share – the automotive industry and the production of furniture and clothing. For example, in the automotive sector, the value of sold production was 80 percent lower than last April.
According to PIE, April descends should set minimums, after which the situation will gradually improve.
(PAP)
