Gross domestic product
The gross domestic product (seasonally unadjusted) in the second quarter of 2025 increased in annual terms slightly more than in the first quarter of 2025 and in the second quarter of 2024 (in those periods the growth amounted to 3.2%). After seasonal adjustment the growth rate was weaker than in the previous quarter and a year before.
Population
The population of Poland at the end of June 2025 was smaller both than a year earlier and compared to the end of December of the previous year. In January‒June 2025, fewer children were born and more people died than in the same period a year before. As the number of births was lower than the number of deaths, the natural increase remained negative. It is estimated that in first half of 2025, as in the same period of the previous year, the international net migration was positive.
Labour market
A slightly larger annual decline in average paid employment in the enterprise sector was recorded than in June 2025. In July 2025, more persons were recorded in the register rolls of the unemployed than a year ago, while fewer were removed from the register. The registered unemployment rate at the end of July 2025 was higher than in the previous month as well as a year before.
Labour market – Labour Force Survey (LFS)
According to preliminary results of the Labour Force Survey, in the second quarter of 2025, both the number of employed persons and the employment rate were similar to these observed a year earlier. The number of unemployed persons and the unemployment rate increased, but compared to the first quarter of 2025, they took on lower values.
Average monthly gross retirement and other pensions
The average nominal and real gross retirement and other pensions from non - agricultural social security system increased in annual terms more than in previous months. There was a decrease in the average nominal gross retirement and other pensions of farmers and in its purchasing power, which was related, among other things, to the expansion of the group of beneficiaries to include persons entitled to a new benefit – the so-called widows' pensions.
Consumer prices
The year-on-year growth in prices of consumer goods and services was the lowest in a year, which was influenced among other factors by a weakening increase in prices related to dwelling (a year ago, a significant acceleration was observed due to a partial unfreezing of energy, gas and other fuels prices). The growth in prices of food and non-alcoholic beverages was similar as in June 2025. Prices, among others, related to transport were still lower than a year before (of which of fuels for personal transport equipment); their decline was smaller than in the previous month.
PRICES OF CONSUMER GOODS AND SERVICES
Prices of sold production1 of industry
and construction and assembly production
Prices of sold production of industry remained lower than a year before, though the decline was slightly smaller than in previous months. Meanwhile, the growth rate of construction and assembly production prices slightly accelerated, after gradually weakening until June.
PRICES OF SOLD PRODUCTION OF INDUSTRY
Sold production of industry2
There was a year-on-year increase observed in sold production of industry, following a decrease recorded in June 2025. Production sales grew in manufacturing (the main section of industry) as well as in water supply, sewerage, waste management and remediation activities. The decline of sold production occurred in mining and quarrying as well as in electricity, gas, steam and air conditioning supply. Among the main industrial groupings, sales were significantly higher than a year before in the production of capital goods. Sales increases were also recorded in the production of non-durable consumer goods and of intermediate goods. Decreases were observed in the production of energy and of durable consumer goods.
SEASONALLY UNADJUSTED
Construction and assembly production3
Construction and assembly production increased slightly year-on-year (to a lesser extent than in June 2025). Production was higher than a year before in companies specialising in specialised construction activities, but lower in entities mainly involved in civil engineering and construction of buildings. Sales of investment works increased, while sales of restoration works decreased.
SEASONALLY UNADJUSTED
Housing construction4
Similarly to June 2025, fewer dwellings were completed than a year ago. After a significant increase in July 2024, the number of dwellings for which permits have been granted5 and dwellings in which construction has begun decreased.
DWELLINGS COMPLETED
DWELLINGS FOR WHICH PERMITS
HAVE BEEN GRANTED 5
DWELLINGS IN WHICH CONSTRUCTION HAS BEGUN
Retail sales
Retail sales increased more year-on-year than in the previous month. Growth was recorded in most groups, including significant growth (after a decline a year ago) in the groups: furniture, radio, TV and household appliances as well as textiles, clothing, footwear. For the second month in a row, sales in the group with the largest share of total retail sales, i.e. food, beverages and tobacco products, were lower than a year ago.
RETAIL SALES
Agriculture
On the agricultural market, purchase prices for most basic plant and animal products were higher than in July 2024. However, prices for barley, potatoes and pigs for slaughter dropped.
PROCUREMENT PRICES OF WHEAT
PROCUREMENT PRICES
OF PIGS FOR SLAUGHTER
Foreign trade
Exports of goods decreased slightly year-on-year, while imports increased (whereas a year before, a decline was observed on both sides of the trade). The total exchange closed with a negative balance, unlike a year earlier. The value of goods exported to developed countries was similar to the previous year's level, while exports to other groups of countries decreased. On the import side, the value of goods imported from developed and developing countries increased, while imports from Central and Eastern European countries declined. The terms of trade index in January–May 2025, as in the previous year, was unfavourable.
EXPORTS
(in PLN)
Financial results of non-financial enterprises
Financial results of the surveyed enterprises were higher than those obtained in the first half of 2024. Economic and financial relations improved. Revenues from export sales increased. The basic indicators among exporters were better than a year before and comparable to those for enterprises in total.
NET FINANCIAL RESULT
GROSS TURNOVER
PROFITABILITY INDICATOR
NET TURNOVER
PROFITABILITY INDICATOR
Investment outlays of non-financial enterprises
The investment outlays of the surveyed non-financial enterprises decreased in annual terms (the drop was smaller than a year earlier). Outlays on buildings and structures declined, while those on purchases increased. The number of new investments was lower than in the first half of 2024, with their estimated value also slightly decreased. Investment outlays of entities with foreign capital dropped.
INVESTMENT OUTLAYS
(AT CONSTANT PRICES)
Business tendency
Sentiments among entrepreneurs in manufacturing and retail trade are less negative than in July 2025. In construction, the general business climate remains similarly unfavourable as a month before. In transportation and storage, assessments are slightly negative (compared to positive in July 2025).
The labour costs are most often mentioned by entrepreneurs among barriers to running current activity. Other important difficulties are, among others, also high payments to state revenue and uncertainty of economic environment (these barriers are currently indicated less often than in August 2024, it mainly concerns high payments to state revenue). Entrepreneurs generally more often than a year before report problems with insufficient demand and too tough competition on market.
Most entrepreneurs, similarly as three months before (i.e. in the previous round of the survey in which questions about investments were included) predict that in 2025 will maintain the level of investments from the last year (this is indicated by 48%–60% of units among presented activities). Among the barriers hindering investment opportunities, high investment costs are the most frequently indicated (more so than three month ago). Fewer entities than in May 2025 identify high inflation and uncertain macroeconomic situation as the factors hindering investments (which are mentioned more seldom particularly by entities in construction and retail trade).
Consumer tendency
Consumer confidence indicators, monitoring current and predicted tendencies in individual consumption, are less unfavourable than in July 2025. Among others, pessimistic assessments concerning the predicted and current economic situation of the country, have improved. According to respondents the increase in consumer prices will continue.
Consumer concerns about the threat posed by the war in Ukraine have generally increased compared to a month ago. According to 29% of respondents, the conflict on the Ukrainian territory poses a major threat to Poland's sovereignty and independence (vs. 28% in July 2025), while 28% believe it threatens the Polish economy (vs. 23%). According to 8% of respondents, the war is a major threat to their personal financial situation (vs. 6% in July 2025). Losing their job or closing their own business due to the war is a definite fear for 3% of respondents (vs. 2% a month before), while still 8% consider such a situation possible.
CURRENT CONSUMER
CONFIDENCE INDICATOR
Sytuacja społeczno-gospodarcza kraju
Departament Opracowań Statystycznych
e-mail:
ssgk@stat.gov.pl