Only the March data on the Polish economy will reveal the first negative effects of the war

Results from the industrial sector in February this year. once again stood above market forecasts. Russia's aggression against Ukraine at the end of February this year. and the ongoing war put the industrial sector of the Polish economy under a negative influence of the geopolitical situation due to, inter alia, supply limitations, insufficient availability of components, limitations of certain raw materials, cost pressure, and the outflow of labor in Poland as a result of mobilization in Ukraine. According to analysts, March will show a more complete picture of the disturbances and turbulence caused by the war and the tendencies as to the scale of the slowdown of the Polish economy after its very strong post-pandemic rebound and the persistence of economic activity at high levels.

As reported by the Central Statistical Office (GUS), sold production of industrial enterprises increased by 17.6 percent y/y in February 2022. In monthly terms, an increase of 3.6 percent was recorded. After eliminating the influence of seasonal factors, in February this year sold production of industry was 17.6 percent higher than in the corresponding month of the previous year and by 2.1 percent higher than in January this year. 

(ISBnews)