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Financial News: Poland Economy Expands More Than Estimated In Q1

Poland Economy Expands More Than Estimated In Q1

06/03/2024 - 09:38:00 (RTTNews)

(RTTNews) - The Polish economy grew slightly more than initially estimated in the first quarter, the latest data from Statistics Poland showed on Monday.

Gross domestic product advanced 0.5 percent sequentially in the first quarter, following a flat change in the final quarter of 2023, which was revised from a 0.1 percent drop estimated earlier.

In the flash report, the rate of growth for the first quarter was 0.4 percent.

On the expenditure side, household consumption grew 2.1 percent over the quarter, and public consumption expenditure increased by 1.9 percent. Meanwhile, gross fixed capital formation declined by 3.0 percent.

On a year-on-year basis, GDP growth decelerated to 1.3 percent in the March quarter from 1.7 percent in the December quarter, as estimated.

Data also showed that seasonally unadjusted GDP grew at a faster pace of 2.0 percent annually in the first quarter versus 1.0 percent growth in the preceding three-month period. The first quarter figure was revised up from 1.9 percent.

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