Monday, 27 April 2026
Poland’s economic indicator (WWK), which provides an early signal of economic trends, increased by 1.4 points in April 2026 compared with the previous month. The rise offsets declines recorded in the prior two months, although the index remains below its recent peak at the start of the year.
Half of the indicator’s eight components showed improvement, while the remaining elements were largely unchanged.
Equity market performance was the main contributor to the increase. The WIG index on the Warsaw Stock Exchange has been on an upward trajectory since late 2024, with its real value rising by more than 30 percent over the past year. Market participants have remained positive despite external pressures, including geopolitical tensions in the Middle East, higher oil prices and elevated risk levels. A weaker US dollar has also supported capital flows into Polish equities.
However, the stock market continues to play a limited role in corporate financing. The capitalisation-to-GDP ratio in Poland stands at around 27 percent, significantly below the European Union average of approximately 60 percent.
Industrial data point to a modest improvement in demand conditions. The share of companies reporting declining order books fell in April, although the timing of public holidays at the start of the month affected the data. After adjusting for this factor, the improvement appears limited. At the same time, inventories of finished goods declined, which may support production levels in the near term, as seen in March.
Corporate financial conditions remain broadly unchanged. Since autumn last year, more companies have continued to report a deterioration rather than an improvement in their financial situation.
Business sentiment has nevertheless shown a slight improvement. This appears to reflect a degree of adjustment by companies to the current operating environment, including higher input costs, supply constraints and elevated uncertainty.
