US dollar hits new multi-month high versus Polish zloty

(RTTNews) - Extending yesterday's uptrend, the US currency advanced against the Polish zloty in New York morning trading on Tuesday. At about 8:30 am ET, the greenback climbed to a new multi-month high of 2.2835 versus the zloty, compared to yesterday's close of 2.2376. As of now, the air is trading at 2.2670.

Tuesday, the Central Statistical Office of Poland announced that the Poland's unemployment rate dropped to 9.4% in July from 9.6% recorded in prior month. A year ago, the rate was 12.1%. The jobless rate declined for the sixth month in a row, falling from 11.7% in January.

The Central Statistical Office also said that Polish retails sales rose 14.3% year-on-year in July, a notch higher than the 14.2% rise recorded in June. Economists had expected the growth to decline to 14% for July.

Source: By RTT Staff Writer

Fitch sees Poland 2008 growth easing to 5.2 pct-paper

WARSAW, Aug 27 (Reuters) - Poland's economic growth is expected to slow to 5.2 percent this year and to 4.6 percent in 2009, due to a slowdown in Europe, Fitch Ratings Agency's analyst David Heslam was quoted as saying.
On other hand Poland's growth will be supported by strong domestic demand, low unemployment, and a healthy labour market, Heslam said.
"We have revised our forecast for Poland's growth to 5.2 percent in 2008 and 4.6 percent in 2009," Heslam told Rzeczpospolita daily.
Ex-communist central Europe's largest economy expanded by 6.6 percent in 2007 but market analysts expect the growth will slow to 5.3 percent in 2008. The finance ministry has forecast an expansion of 5.5 percent.

Source: By Patryk Wasilewski,Kim Coghill
guardian.co.uk