Polish economy grows 0.5% in Q3 2023: stats office

The Polish economy grew 0.5 percent in the third quarter of this year, the country’s statistics office said on Thursday in a preliminary estimate.

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The reading was 0.1 percentage point higher than a flash estimate released by the Statistics Poland (GUS) office earlier this month.

PKB w III kwartale wzrósł o 0,5 proc. GUS podał najnowsze szacunki https://t.co/ktywjhI1oy

— Gospodarka - Polskie Radio (@Gospodarka_PRSA) November 30, 2023

Investment increased by 7.2 percent and private consumption rose by 0.8 percent in Poland in the third quarter of 2023, Statistics Poland reported.

Meanwhile, domestic demand decreased by 5.2 percent, it said.

According to the preliminary estimate, the seasonally adjusted gross domestic product (#GDP) in the 3rd quarter of 2023 was higher by 0.5% YoY.https://t.co/ehMdmhMkfN#StatisticsPoland #statistics #NationalAccounts #economy pic.twitter.com/8ZeUklB9pE

— Statistics Poland (@StatPoland) November 30, 2023

Poland's gross domestic product shrank 0.6 percent in the second quarter of this year, after contracting 0.3 percent in the first quarter, according to the state-run Statistics Poland (GUS) agency.

In 2022 as a whole, Poland's gross domestic product expanded by 5.3 percent, according to a revised estimate released by Statistics Poland in October.

Poland's President Andrzej Duda in the summer signed into law the country’s revised budget for 2023, which expects the economy to grow 0.9 percent this year.

(gs)

Source: PAP, IAR