NBP calculates a 1.2% drop in exports
Q3 foreign sales were doing fine and a rapid reaction of Polish exports shows the first symptoms of the global financial crisis, surprising experts and further limiting the ability to forecast the future shape of the Polish economy.
"The fact that exports would slow down could be expected. But the fact that it took place already in October is a huge surprise," said Piotr Kalisz, economist of Citi Handlowy. According to Bohdan Wyżnikiewicz, this shows that we have already witnessed dropping demand for Polish goods abroad, which is more conducive to the changing situation in the world as it has an increasing share of more advanced products.
More information on exports will be provided by the Central Statistical Office (GUS) on Monday, but "Regardless of statistical factors there is only one direction - export will get weaker," said Ernest Pytlarczyk, economist of BRE Bank.
Sources: Rzeczpospolita, Parkiet (M.M.)
"The fact that exports would slow down could be expected. But the fact that it took place already in October is a huge surprise," said Piotr Kalisz, economist of Citi Handlowy. According to Bohdan Wyżnikiewicz, this shows that we have already witnessed dropping demand for Polish goods abroad, which is more conducive to the changing situation in the world as it has an increasing share of more advanced products.
More information on exports will be provided by the Central Statistical Office (GUS) on Monday, but "Regardless of statistical factors there is only one direction - export will get weaker," said Ernest Pytlarczyk, economist of BRE Bank.
Sources: Rzeczpospolita, Parkiet (M.M.)
