Poland: Growth remains strong in Q2
The economy kept pace in the second quarter of 2018. According to preliminary data released by the Central Statistics Office on 14 August, the economy expanded 5.1% annually in Q2, broadly matching Q1’s 5.2% expansion and largely in line with market expectations.
Although a breakdown by components is not yet available, a strong expansion in retail sales recorded throughout the second quarter, together with tightening labor market conditions and moderate inflation, suggest that growth once again came on the back of buoyant private consumption. Moreover, robust readings for both industrial production and the manufacturing PMI in the quarter point to a healthy expansion in fixed investment.
On a seasonally-adjusted quarter-on-quarter basis, GDP growth decelerated from a 1.6% expansion in the first quarter to a 0.9% increase in Q2. More detailed data will be released on 31 August.