Poland's Industry Is Picking Up Again

Polish industry is showing the first signs of a recovery. After a decline at the start of the year, production rose slightly again in February—exceeding analysts’ expectations.

Industrial production rose by 1.5 percent year-over-year, returning to positive territory. Seasonally adjusted figures also show moderate momentum. The mining and utilities sectors, in particular, provided strong impetus, while other industrial sectors remained mixed

Economists expect this cautious upward trend to continue. Improved weather conditions are likely to provide additional support for production. At the same time, the outlook remains subdued: the effects of rising energy prices may not become more noticeable until the coming months.

The latest data do not change the monetary policy stance for the time being. Given stable labor markets and ongoing uncertainties—particularly due to the situation in the Middle East—the Polish central bank is likely to maintain its wait-and-see approach.

The environment remains fragile: Volatile energy markets and geopolitical risks could derail the economic recovery at any time—and also call into question growth forecasts for the coming years.