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Poland GDP Q1 2024

Poland: Economic growth cools in Q1

According to a flash release, GDP expanded 0.4% in Q1 in seasonally adjusted quarter-on-quarter terms, rebounding from the previous quarter’s 0.1% decrease. Meanwhile, the economy grew 1.3% on an annual basis in the first quarter of this year, which was a deceleration from the Q4 2023’s 1.6% increase.

Absent comprehensive data, stronger economic sentiment in January-March than in Q4, coupled with declining inflation, should have aided private spending. That said, industrial production contracted in the same period, suggesting that the secondary sector dragged on growth. Meanwhile, still-elevated interest rates likely weighed on investment, while subdued EU activity in the quarter bodes ill for exports.

A detailed breakdown will be released on 3 June.

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