Population
The decline in Poland's population, which has maintained almost continuously since 2012, was greater than the year before. The number of births fell over the past year (to the lowest level since 1945) and the number of deaths was similar to the one recorded in 2023. As a result of fewer births than deaths, the natural increase remained negative. It is estimated that the international net migration was positive, as in previous years.
Labour market
The annual decrease in average paid employment in the enterprise sector was similar to the one recorded in January 2025 and slightly higher than in the consecutive months of 2024. In the register rolls of the unemployed, fewer persons were recorded than a year ago, and fewer persons were removed from the register as well. The registered unemployment rate at the end of February 2025 remained at the level observed in the previous month and in corresponding period of the previous year.
According to the results of the labour demand survey, in the fourth quarter of 2024 more new jobs were created than a year before, and more jobs were liquidated as well.
Average monthly gross wages and salaries in enterprise sector
Average nominal gross wages and salaries in the enterprise sector increased in annual terms to a lesser extent than in previous periods. The growth in the purchasing power of wages and salaries has weakened further.
NOMINAL
Average monthly gross retirement and other pensions
Nominal and real gross retirement and other pensions from the non-agricultural system increased in annual terms at a slightly slower rate than in the previous month, while those of farmers grew at a similar one.
Consumer prices
The annual increase of consumer prices was similar to the one recorded in January 2025 and covered most groups of consumer goods and services. The growth rate of prices related to dwelling, as well as of food and non-alcoholic beverages, was higher than the overall growth of consumer prices and the fastest in about one and a half year. Prices in transport declined in annual terms more than in January 2025.
PRICES OF CONSUMER GOODS AND SERVICES
Prices of sold production1 of industry
and construction and assembly production
Producer prices in industry declined in annual terms slightly more than in January 2025 (but to a lesser extent than in the following months of 2024). The growth rate of producer prices in construction has slowed down further.
PRICES OF SOLD PRODUCTION OF INDUSTRY
Sold production of industry2
Sold production of industry decreased in annual terms slightly more than in the previous month, which was partly due to seasonal factors (after eliminating their impact, a slight increase was recorded). A significant decline in sales was observed in mining and quarrying, while in manufacturing the drop was only slightly larger than that in industry in total. In contrast, sales were higher than in February 2024 in electricity, gas, steam and air conditioning supply, as well as in water supply; sewerage, waste management and remediation activities. Sales decreased across all main industrial groupings, with the most pronounced decline recorded in the production of energy.
SEASONALLY UNADJUSTED
Construction and assembly production3
Construction and assembly production remained at the level recorded a year before (after eliminating the impact of seasonal factors, a slight increase was observed). Production was higher than in February 2024 in enterprises engaged mainly in specialised construction activities and in civil engineering, while it was lower in entities specialising in construction of buildings. Sales of investment works increased in annual terms, while sales of restoration works declined.
SEASONALLY UNADJUSTED
Housing construction4
The number of dwellings completed was lower than a year before. Following the significant increases in February 2024, a decrease was recorded in the number of dwellings for which building permits have been granted or which have been registered with a construction project, as well as in the number of dwellings in which construction has begun.
DWELLINGS COMPLETED
DWELLINGS FOR WHICH PERMITS HAVE BEEN GRANTED 5
DWELLINGS IN WHICH CONSTRUCTION HAS BEGUN
Retail sales
Retail sales were slightly lower than a year before (when a relatively high increase was recorded). A decline in sales occurred in groups with a significant share in total retail sales, i.e. food, beverages and tobacco products, as well as – following a considerable increase in February 2024 – in solid, liquid and gaseous fuels and in the group of others. For the second consecutive month, sales increased in textiles, clothing, footwear as well as in furniture, radio, TV and household appliances (after declines a year earlier). The growth in sales in units trading in motor vehicles, motorcycles, parts continued.
RETAIL SALES
Agriculture
Prices of most basic agricultural products were higher than a year before (when declines prevailed). While prices of pigs for slaughter and potatoes were lower than in February 2024.
PROCUREMENT PRICES OF WHEAT
PROCUREMENT PRICES
OF PIGS FOR SLAUGHTER
Foreign trade
Exports of goods decreased to a lesser extent than a year before, and imports increased (after a decline in January 2024). The total exchange closed with a negative balance (against a positive one a year before). On both sides of the exchange, turnover declined with developed countries (including EU countries) and with Central and Eastern European countries, whereas it increased with developing countries.
EXPORTS
(in PLN)
Financial results of non-financial enterprises
Financial results of the surveyed enterprises were significantly lower than those achieved in 2023. Economic and financial indicators deteriorated. Revenues from export sales decreased. The basic economic and financial relations of exporters worsened and were less favourable than those for enterprises in total.
NET FINANCIAL RESULT
GROSS TURNOVER
PROFITABILITY INDICATOR
NET TURNOVER
PROFITABILITY INDICATOR
Investment outlays of non-financial enterprises
After growth in the previous three years, in 2024 the investment outlays of the surveyed non-financial enterprises decreased in annual terms. Outlays on buildings and structures decreased more than those on purchases. The number of new investment increased (contrary to the previous two years). Their estimate value was also higher than a year before (after a decrease in 2023). Investment outlays of entities with foreign capital decreased.
INVESTMENT OUTLAYS
(AT CONSTANT PRICES)
Business tendency
Entrepreneurs in most of the presented areas of activity assess the business climate less negatively than in February 2025. Only in transportation and storage the assessments of the general business climate remain as unfavourable as in the previous month.
Among barriers in conducting activity, entrepreneurs less frequently than in March 2024 indicate unclear, inconsistent and unstable legal regulations or uncertainty of the general economic situation. Mostly more burdensome than the year before, however, has become excessive market competition and insufficient demand.
Among entrepreneurs, plans to maintain employment at the current level still prevail. At the same time, more entities intend to reduce employment of employees relatively easy to replace than those planning to increase it. In the case of employees relatively difficult to replace, in manufacturing as well as in transportation and storage, plans to increase employment prevail over those to reduce it (differently than in retail trade and construction). According to entrepreneurs, the main factors influencing the level of wages and salaries remain the financial situation of the company and maintaining the real value of salaries (inflationary increases).
Consumer tendency
Consumer confidence indicators remain unfavourable. The indicator reflecting current tendencies in individual consumption deteriorated compared to February 2025, while the one concerning expected tendencies improved. Opinions regarding, among others, the current financial situation of the household and the economic situation of the country are more pessimistic than in the previous month. On the other hand, assessments of the possibility to save money in the future are more positive and better than a month before. According to respondents, the increase in consumer prices will continue.
Consumers in general express greater concerns than in February 2025 about the risks arising from the current situation in Ukraine. According to 36% of respondents, the conflict in Ukraine poses a major threat to Poland’s sovereignty and independence (compared to 28% a month before), and according to 29% – to the Polish economy (vs. 25%). In the opinion of 9% of respondents (similarly as in February), the war in Ukraine is also a major threat to their personal financial situation. Fear of job loss or closure of their own business due to the war is strongly expressed by 2% of respondents (compared to 3% a month before), and 11% perceive the possibility of such situation (vs. 8%).
CURRENT CONSUMER
CONFIDENCE INDICATOR
Sytuacja społeczno-gospodarcza kraju
Departament Opracowań Statystycznych
tel. 22 608-31-18
e-mail:
ssgk@stat.gov.pl