Poland’s leading economic indicator up 9 points m / m in July according to BIEC

The Leading Economic Indicator (WWK), which forecasts future economic activity in Poland, went up by 9 points m/m to 152.8 points in July 2020, the Bureau for Investments and Economic Cycles (BIEC) said on Tuesday.

“Many things indicate that the economy has shaken off the first pandemic shock, though in relation to December last year, it has made up only half the losses,” BIEC wrote in a commentary.

“It can be expected that in the coming months the improvement of basic macroeconomic indicators will no longer be so spectacular and entry onto the pathway of development prior to the pandemic may occur only after its abatement,” BIEC continued. “Even if a further administrative closure of the economy does not occur, demand will not return to the previous level and companies will not work at full steam.”

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