Poland’s GDP growth should average 0.6% in 2023, the Polish Economic Institute (PIE), a government-affiliated economic think-tank, reported on May 17.
In a commentary to GDP growth data provided by the Central Statistical Office (GUS), PIE wrote that the growth rate was expected to pick up in the second half of the year, mainly owing to increases in investment and household spending.
In an estimate published on May 16, GUS put Polish GDP growth in Q1 down by 0.2% YoY and up 3.9% QoQ.
GUS wrote that the GDP drop in Q1 was the result of falling consumption, with household expenditure recording a 2% fall. GUS noted, however, that investment in the same period has probably recorded growth.
According to PIE, economic activity will improve in the coming quarters, with Poland achieving a stable economic growth rate in the second half of the year. (PAP/Business World Magazine)