Polish economy shrinks 2.8% in Q4 2020: flash estimate

The Polish economy contracted 2.8 percent in the final quarter of last year, the country’s Central Statistical Office (GUS) said on Friday in a flash estimate.

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Economists polled by state news agency PAP had expected a drop of 3 percent amid the coronavirus crisis.

According to the flash estimate, gross domestic product (#GDP) in volume terms seasonally unadjusted was lower by 2.8% in the 4th quarter of 2020 year-to-year.https://t.co/WP4Autz1bn#StatisticsPoland #statistics #FlashEstimate #NationalAccounts pic.twitter.com/ilEpoHEREx

— Statistics Poland (@StatPoland) February 12, 2021

The state-run statistics agency has previously reported that Polish GDP fell by 1.5 percent in the third quarter of last year, after shrinking 8.4 percent in the second quarter.

The Polish economy contracted by 2.8 percent in 2020 as a whole, according to an estimate released by the Central Statistical Office (GUS) last month.

The Polish economy expanded by 4.5 percent in 2019, after registering 5.3 percent growth in 2018, according to the Central Statistical Office.

(gs/pk)

Source: PAP