The reading was 0.1 percentage point below a consensus forecast by economists, but nonetheless marked the highest year-on-year GDP growth rate in the country on record, state news agency PAP reported, as the economy regains momentum after an unprecedented downturn triggered by the coronavirus pandemic.
Poland's GDP contracted 0.9 percent in the first quarter of this year amid the COVID-19 disruption, according to a preliminary estimate by the state-run statistics agency.
The International Monetary Fund at the end of last month revised upward its forecast for Poland’s economic growth this year.
In its latest World Economic Outlook report, the IMF predicts Polish GDP will grow 4.6 percent in 2021 as a whole as the economy emerges from the coronavirus pandemic.
Poland’s central bank earlier last month updated its GDP growth forecasts for the country, saying it now expects the economy to expand 5 percent this year, followed by 5.4 percent growth in 2022.
The European Commission in July upgraded its forecast for Polish GDP growth this year to 4.8 percent, from a previous projection of 4 percent.
The Polish economy shrank 2.7 percent in 2020 after posting 4.7 percent growth in 2019, according to the country’s Central Statistical Office (GUS).
The Polish statistics office is expected to report full second-quarter data on August 31.
(gs)
Source: PAP