Poland: GDP growth picks up speed in Q1
According to a preliminary estimate, GDP growth accelerated to 8.5% year on year in the first quarter, from 7.6% in the fourth quarter of 2021. Meanwhile, on a seasonally-adjusted quarter-on-quarter basis, economic growth strengthened to 2.4% in Q1, compared to the previous quarter’s 1.8% growth.
More detailed GDP data will be released on 31 May.
Piotr Poplawski and Adam Antoniak, senior economists at ING, commented:
“Detailed data on GDP composition will be unveiled on 31 May, but in our view, economic growth was still driven by robust household consumption and solid fixed investment, as suggested by data on construction output in Q1 2022. At the same time, businesses continued restocking their inventories of inputs, which contributed markedly to GDP growth in Q1 2022.”