Poland's Current Account Balance Disappoints in August
Poland's current account balance surprised on the negative side in August, with a deficit 2.5 times higher than the consensus forecast.
The external current account data for August showed a deficit of €3,087 million, marking the sixth consecutive month of a current account deficit in the balance of payments.
- Merchandise trade turnover declined from a year ago, partly due to calendar effects.
- The 12-month cumulative deficit held at just 1% of GDP.
The August deficit was almost 2.5 times higher than the market consensus, which expected a deficit of €1,335 million.
Despite the disappointing data, Poland's external position remains solid.
Author's summary: Poland's current account deficit is a temporary concern.
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