An economic slowdown is to be expected in the second half of the year, the Polish Economic Institute (PIE), a government think-tank, said on August 17 citing the latest figures from the Central Statistical Office (GUS).
Poland’s statistical office GUS reported the country’s GDP grew by 5.3% YoY in the second quarter against 8.5% in the first quarter and on a 2.3% seasonally adjusted quarterly decrease.
In its comment, the PIE noted that the result published by GUS was weaker than the median of market forecasts (6%).
According to the think-tank, the slowdown was related to lower consumer spending but the investment growth rate remained close to the previous quarter.
“The economic performance was still boosted by the accumulation of inventories by enterprises – but this was probably the last such quarter,” analysts wrote.
They said they expected Poland’s economic growth in Q3 to be close to 3% and that it would slightly exceed 4.5% in the whole of 2022. (The First News/Business World Magazine)
