Financial News: Poland GDP Growth Confirmed At 1.5%

Poland GDP Growth Confirmed At 1.5%

08/29/2024 - 08:52:00 (RTTNews)

(RTTNews) - The Polish economy expanded at an accelerated pace as initially estimated in the second quarter, the latest data from Statistics Poland showed on Thursday.

Gross domestic product advanced 1.5 percent sequentially in the second quarter, faster than the 0.8 percent rise in the first quarter. That was in line with the flash data published on August 14.

On the expenditure side, household consumption grew 0.7 percent over the quarter, and public consumption expenditure increased by 1.3 percent. Similarly, gross fixed capital formation rose by 2.5 percent.

On a year-on-year basis, GDP growth accelerated to 4.0 percent in the June quarter from 1.8 percent in the March quarter, as estimated.

Data also showed that seasonally unadjusted GDP grew at a faster pace of 3.2 percent annually in the second quarter versus 2.0 percent growth in the preceding three-month period, in line with the earlier estimate.

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