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PFR Head Borys Sees Risk of Technical Recession in 2-3 Quarter

POLAND
  • *HEAD OF STATE FUND PFR BORYS SPEAKS AT CONFERENCE IN BUKOWINA
  • *POLAND FACES RISK OF TECHNICAL RECESSION IN 2-3 QUARTERS: BORYS
  • *POLAND BALANCING BETWEEN `DEEP' AND `SOFT' SLOWDOWN: BORYS (BBG)
  • Since the start of the year, a rising number of financial and economic leading indicators have been pricing in a significant slowdown in the economic activity in H2.
  • The chart below shows that the sharp tightening in financial conditions in the past year (i.e. surging ST rates) has been pricing in a significant slowdown in the business activity in the coming 6 to 9 months.

Source: Bloomberg/MNI

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