Executive Note

Dear Members and Readers,

The first two months of 2024 passed very quickly – time passes quickly when you’re busy! Here at the BPCC, we started the year with our traditional CEO Breakfast, with Prof Witold Orłowski outlining how Poland’s economy is likely to fare in 2024. This year’s economic forecasts are much better for Poland than last year’s performance, with GDP growth projected to be around 3-4 % but with inflation likely to tick up again to around 5% across the year. 

A tipping point in the Polish labour market?

Last month’s unemployment figures, by the Statistics Poland measure of registered unemployed, have jumped month on month from 5.1% to 5.4%. By the Eurostat measure of the economically inactive, the rise is from 2.7% to 3.1%. While there’s an element of seasonality here, and deducing a trend from a single month’s data is impossible, the numbers may serve as a clue that a sea-change in market conditions is under way. 

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