Polish corporate health improved in Q2, central bank says

Polish companies saw better financial conditions in the second quarter of 2026, with favorable trends continuing into the third quarter, the National Bank of Poland said Tuesday.

Corporate revenues from both domestic and foreign sales grew during the second quarter. The proportion of companies operating profitably also increased during this period.

Wage pressures eased as fewer companies planned salary increases. The average size of planned wage hikes remained low, according to the central bank’s report.

Corporate investment growth reached its fastest rate since 2019, driven primarily by public-sector enterprises. The acceleration was supported by European Union fund inflows, with public companies recording their highest investment increase on record.

The NBP’s Quick Monitoring survey showed that companies reported improved profitability assessments in the third quarter. Capacity utilization also rose slightly during this period.

The outlook for the coming 12 months deteriorated, with companies reporting weaker expectations for demand, profitability, and liquidity in the third quarter.

Investment sentiment remained high among public-sector companies in the third quarter. Domestic private firms maintained moderate investment plans, while foreign-owned enterprises showed declining investment sentiment.

The share of companies planning to raise prices decreased in the third quarter. The average scale of planned price increases also fell, the central bank said.