17:38 13 August 2024
ING economist: data from Germany bad news for Polish exports
Leszek Kąsek, an economist at ING, commented on the recent Polish balance of payments data released by the National Bank of Poland (NBP). He noted that the weakening economic indicators from Germany, such as the ZEW confidence index, do not bode well for Polish exports in the second half of the year. The NBP data showed a 9.1% y/y decline in Polish exports in June, attributed to weak demand in key markets like Germany.
Kąsek pointed out that the appreciation of the Polish złoty further complicates export growth. Despite these challenges, Poland's current account surplus was stronger than expected, though Kąsek views the data as neutral for the złoty.
(PAP)
