Polish industrial production growth stayed above 10 percent for a third straight month in July as export-oriented companies lead the country’s economic recovery.
Output expanded 10.3 percent from a year earlier after a revised 14.3 percent in June, the Central Statistical Office said today on its website. While the figure missed the 12.6 percent median estimate from 12 economists surveyed by Bloomberg, the slowdown was mainly due to fewer working days, said Monika Kurtek, an economist at Bank BPH in Warsaw.
http://www.bloomberg.com/news/2010-08-18/polish-industrial-output-expands-10-for-third-month-cementing-recovery.htmlPoland has a floating currency, the zloty. From April 2004 to July 18, 2008 it doubled in US dollar value, from .25 to .50. From July 18, 2008 to February 2009 it plunged to .27, and has spent the time since trading at between .29 and .37. It is currently trading at .32.
Polish export growth was nearly 52% YoY.
Poland's current account is still negative, but not nearly as negative as during most of the 2000s. One must assume this current account deficit wasn't funded by domestic companies borrowing from abroad in dollars or euros, or else they would have had trouble repaying in 2009 and Poland would have fallen into recession.
